February homebuying secrets banks don't want you to know
Access to Better Mortgage Rates
Another secret banks might not want you to know is that February often brings more competitive mortgage rates. Lenders are keen to attract business during this slower period and may offer promotional rates or reduced fees to entice buyers. By locking in a mortgage during this time, you could secure a lower interest rate, which can save you thousands over the life of your loan3.
Exploring Inventory with Less Competition
One of the biggest challenges for homebuyers is competing with other buyers, especially in a hot market. February's cooler market conditions mean less competition, giving you more time to explore available options and make informed decisions without the pressure of a bidding war. Additionally, browsing options during this time can lead to discovering hidden gems that might be overlooked during busier months4.