11/16/2024

11/16/2024

The inventory of homes for sale is up 28% year-over-year (more choices for buyers!), but 30-yr mortgage rates are back near 7% (affordability issues for buyers). It’s tough to think about making a move right now, I know. But don’t forget: home ownership builds wealth, and getting started is the key.

11/09/2024

11/09/2024

Despite contradictory data regarding the strength of the economy and the job market, the Fed voted to cut rates by 25 bps on Thursday. Mortgage rates, however, have continued to move in the opposite direction. Hope you find my update on all things real estate useful!

10/18/2024 End of Week

10/18/2024 End of Week

The Fed cut rates by 50 basis points on September 18, initiating a new loosening cycle. Since then, average 30-year mortgage rates have RISEN by 50 basis points to around 6.60%. Why? Because September jobs growth was a lot stronger, and September inflation (CPI) a bit hotter than expected. Hope you enjoy my weekly update on national and local real estate!

10/11/2024 End of Week

10/11/2024 End of Week

It’s been a tough week for homebuyers, with stronger September jobs growth AND hotter than expected September CPI (inflation) sending bond prices lower and mortgage rates higher. Nonetheless “green shoots” are appearing with pending sales and housing sentiment improving. Hope you enjoy my weekly update on all things real estate!