Housing Watch: Valley buyers noticing easing market conditions

FRESNO, Calif. (KFSN) -- Central Valley homebuyers person noticed the easing marketplace conditions.

Mortgage involvement rates are the lowest we person seen successful a year.

"Right now, it's technically not a seller's market," Paul Salazar of Sierra Pacific Mortgage. "It's not a buyer's market. We're close successful nary man's onshore close now."

Salazar says radical person been encouraged by the little owe involvement rates.

He says the alleged "naked rate" has made a important move.

"A bare complaint fundamentally means we don't cognize your recognition score," Salazar said.

Salazar has been urging radical to wage down their debt.

If you are successful the marketplace for a home, helium says you should get pre-qualified.

"When the rates are a small spot higher, you had possibly 1 oregon 2 radical competing for 1 house," Salazar said.

As rates driblet to a spot wherever location shoppers are funny successful making an offer, those who are pre-qualified instantly determination to the beforehand of the line.

"You're going to person 5 to 7 to 8 radical offering connected that 1 location -- before, it was lone 1 and two," Salazar said. "It's precise important that you get pre-qualified due to the fact that the rates person travel down. More radical are going to beryllium successful the game."

The Federal Reserve began a two-day gathering successful Washington connected Tuesday to sermon policy.

An announcement connected whether oregon not it volition chopped rates is expected connected Wednesday.

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