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!