re: Whats the Likelihood of mortgage rates dropping to upper 5s for a 30 yr loan within

Nobody can give reliable advice for 3 years out. Companies can't project the remainder of this year. Neither can the government. This economy is currently volatile. Will we have 100% tariffs? Or 25%? Will the tariffs be set, then postponed, then set again at a new rate?

There is a guy I follow on X that has pretty good insight to the real estate market in DFW.

He posted Monday that it was time for buyers to start making "insulting" offers. Something is about to go down.

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What would he mean by that?

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I'm guessing he means a low ball offer. Now, what % below asking is purely circumstantial. If a house has been on the market longer than a couple weeks, maybe 10% below asking could be considered "insulting", but a good starting point for a negotiation to meet in the middle.

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maybe 10% below asking could be considered "insulting"

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Unless the market is creating bidding wars, a 90% should never be considered "insulting".

When I first moved to South Florida, good houses were selling well over asking price. Asking price was irrelevant, because buyers were bidding the houses up. There were 330 single family dwellings on the market in Indian River County at that time.

Today, there are almost 4,000 single family houses for sale in the county. Houses are sitting on the market for extended periods. If you don't price your house competitively, you won't get any showings.

The average initial listing price is $430K. The average final sales price is $370K. I'd be willing to bet that a lot of sellers probably turned down "insulting" offers before eventually selling for even less.

I think this guy is saying that buyers should not worry about whether their offer is "insulting" and go ahead and make the bid. You never know.

Personally, I would not go around doing this willy nilly, because my realtor might not appreciate all the paperwork they have to do.

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Oh poor real estate agent. The horror. A little extra paperwork to make 3-6%. Poor babies.

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Then fill out the paperwork yourself.

A good real estate agent is worth their weight in gold. If you've got one, don't make them not want to work with you. They not only can help you negotiate a good price, but can save you money in a lot of ways.

Just my opinion. I don't mind filling out a lowball offer under the right circumstances, but I'm not going to throw a low ball offer at a dozen houses, just to see if someone takes the bait.

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Whats the Likelihood of mortgage rates dropping to upper 5s for a 30 yr loan within 3 years?

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Lousy, it looks like.

Jax and ronricks are correct in what they were saying. Lived in metro ATL for 29 years and a good friend's father-in-law buy a house in that area for just over $400k on a $1.1M house. Owners were getting wiped out due to inability to sell. He was very fix it up type and also owned 3 other houses in metro ATL, 2 were rentals.

FL has it's own issues but all the tax issues with the TX CADs ripping off home owners would keep me from buying in that state. Yeah, no income tax but you get ripped on your inflated property assessments.

We were fortunate to sell our house in Santa Fe on 4/30 and got $20k over ask with 8 parties very interested the first weekend it went live. We bought a 3,100 sq foot house with 4 acres in the Sunlit Hills area across town on 3/28 from an estate that needed to offload the house and got a $120k reduction due to the amount of work that needed to be done on a circa 1997 home. We had 44 months left at 1.75% on the house we sold and currently have a 6.25% 30-year, doubt rates are going down anytime soon. I don't know what pricing will do here but homes in the $700k - $1.5M are still selling, lot of people with money move here with some buying $2M+ properties.