AUGUSTA, Ga. (WJBF) – Anyone scratching their head trying to figure out when to buy a home has not been alone.

“Buyers just kind of got stuck because they were seeing four percent interest rates, three and a half percent interest rates. Then all of a sudden the Fed came in and adjusted the rate and basically just doubled that,” said VanderMorgan Realty Broker, Owner Justin Bolin.

Bolin told NewsChannel 6 his team worked harder when home buyers were leery, during the pandemic and as rates spiked. Now he and First Choice Mortgage President Dirk Merritt say interest rates are improving and it’s time to buy.

“7.125, 7.25. Some borrowers, depending on credit, even getting close to that 8 percent. Now, I’m seeing 5.99, 6.125, 6.25,” Merritt explained.

And Merritt also said those lower numbers give home buyers a little bit of hope.

“It sure means that they can afford more house or the same house and it’s going to be a lot easier for them to afford,” he said.

Compared to about four years ago, Merritt said interest rates were historically low and now, they are normal if you measure them with half a century ago.

Locally, Bolin said this market also fairs well for homeowners wanting to sell.

“It’s really good for sellers as well because we’re still in a very low inventory marketplace and as long as the inventory continues to stay low, and buyers are coming back to the marketplace, we’re geared up for a great 2023 season.”

Mortgage interest rates fluctuate, but Bolin said it’s still best to own instead of renting. He added while you may be eyeing your next place to live now that interest rates are lower, Bolin said it’s a process.

“Set up a time. Let’s sit down. Let’s take a look at your situation so that we can find the best loan product for you before even going out and starting to shop for a house,” Bolin advised.