Falling rates give homebuyers a break. According to Redfin, homebuyers are able to afford more house today compared to a few months ago. With interest rates declining from their high of 7.8% in October of last year, a homebuyer with a monthly budget of $3,000 has gained nearly $40,000 in purchasing power.

The market takes notice. Demand will continue to pick up the more rates fall, so starting your search now could help you get ahead of the competition and avoid bidding wars.

No need to wait. If you're ready to buy a home, act now to take advantage of the recently improving market conditions. Should rates decline, you can take advantage of the opportunity to refinance.

Ready to begin the homebuying process? Turn to the experts at National Iron Bank to get pre-qualified and shop with confidence. Click here to learn more!

Excerpt from Scotsman Guide