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Updated: Nov 25, 2021

If you’re thinking of buying a home in 2019, don’t wait on that New Year’s resolution. Now is the time to buy. Mortgage rates are the lowest they have been since this time last year. Due to various economic and political factors such as the government shutdown and geopolitical unrest, recent volatility in the stock market yielded a downward pressure on interest rates since late December.

Throughout 2018, home mortgage rates rose steadily from the low 4’s to the low 5’s. Back in November, conventional mortgage rates were between 5.125% to 5.25%. However, current conventional mortgage rates are hovering between 4.375% to 4.625%. What does all this mean for home buyers? Now is a good time to take advantage of lower rates. Historically, interest rates rise in the spring market, which begins as early as February in the Metro DC area. Right now, buyers are getting a reset. The current rates are back down to what they were at this time last year. On a $500K house, buyers can save $250 a month on their mortgage compared to last Fall. On a $750K house, buyers could save as much as $350 a month. That equates to a small car payment!


We see more buyers taking notice of this interest rate dip. Coming off the holidays, inventory levels are at an all-time low, creating a perfect storm if you’re thinking of putting your home on the market. Don’t wait for the spring. Get your home on the market as soon as possible. Buyers are getting off the fence and they want to move quickly to take advantage of these lower interest rates. Since many sellers pulled off the market for the holidays, there is less seller competition and more buyer activity.


When it comes to choosing a mortgage lender, don’t solely focus on the rate. Interest rates are not the only important factor. The amount of closing costs charged and the level of customer service are just as important. It is vital that your lender responds quickly and timely. The question to ask yourself is, “Will my lender close the loan on time with little stress to me?” The Metro DC market is highly competitive and moves very fast. A good lender should be able to close a loan quickly, if needed.

At Dutko|Ragen Homes & Investments, we work with trusted lenders who put our clients’ best interests first. If you have questions or would like to meet with one of our Real Estate experts, please call (571) 249-3551 or email


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