Charlottesville, VA (CVILLE RIGHT NOW) – Michael Guthrie, president of Meritus of Howard Hanna Roy Wheeler Realty and host of Real Estate Matters, shared valuable insights on current interest rates and the real estate market during a recent segment on WINA Morning News. 

Guthrie noted interest rates are holding steady in the mid-sixes, with minimal expected fluctuation in the short term. “I don’t anticipate much adjustment,” he explained. “ I think people should be expecting at least for the next little bit, mid sixes again maybe bump up a little bit, maybe bump down a little bit, but I definitely don’t think we’re going to get anything with a 5 in front of it at least before the first of the year.” 

He also addressed market dynamics, emphasizing that while the holiday season traditionally sees a slowdown in activity, it presents unique opportunities for buyers. “Buyers are going to have opportunities to go and make a serious offer to a seller that maybe they wouldn’t have even looked at four months ago,” he advised. Guthrie stressed the importance of competitive pricing for sellers, cautioning against overpricing to avoid properties languishing on the market. 

On tomorrow’s episode of Real Estate Matters, Guthrie will host Wendell and Becky Gibson to discuss niche homebuilding trends and buyer preferences in new construction. 

Listen here for the full conversation: