"Jobs week" (JOLTs, ADP, Challenger etc.) has so far delivered a very consistent message - hiring is slowing and layoffs are rising. We know that rate cuts will start on September 18. Will we get a 25 or 50 basis points? Mortgage rates much lower With increasing signs that the jobs market is weakening, bond … [Read more...] about What’s Up With Real Estate This Week?
🏡 Rates are DROPPING!!! ⤵️
Fed Chairman Jerome Powell's Jackson Hole speech last Friday made it very clear that two things are rising: 1) confidence that inflation is heading towards the Fed's 2% target, and 2) concern that the unemployment rate is rising too quickly. "The direction of travel is clear, and the timing and pace of rate cuts will depend on … [Read more...] about 🏡 Rates are DROPPING!!! ⤵️
What’s Up With Real Estate This Week? August 16th, 2024
Inflation (CPI) continued to ease in July, and average 30-yr mortgage rates approached 6.5%. That's already spurring a renaissance in refinancings (for people who bought in the last few years); can a recovery in homebuying activity be far behind? There's a lot to talk about! Much lower mortgage rates   … [Read more...] about What’s Up With Real Estate This Week? August 16th, 2024
The Fed kept rates steady (again), but said that a rate cut on Sept 18 was definitely "on the table" given progress on inflation and the recent rise in the unemployment rate. The bond market rejoiced, helping to send average mortgage rates near 6.6%. Hope you enjoy this encouraging news. Mortgage rates … [Read more...] about
What’s Up with Real Estate this Week? July 13th, 2024
National news and local views for the week ending Friday, July 12, 2024    Breaking below 7% Lower than expected May PCE + unemployment rate moving up to 4.1% + lower than expected June CPI = average mortgage rates have finally moved back below 7%! At the moment, the market is pricing in 1-2 rate cuts before … [Read more...] about What’s Up with Real Estate this Week? July 13th, 2024
Veterans Affairs Signals Temporary Suspension of Buyer Agent Payment Ban
Official says the department will temporarily allow VA buyers to directly compensate their agent. The Department of Veterans Affairs plans to temporarily lift its ban on buyers directly paying for professional real estate representation until the agency deems it necessary to engage in a formal rule making process, a VA official … [Read more...] about Veterans Affairs Signals Temporary Suspension of Buyer Agent Payment Ban
What’s Up with Real Estate This Week? May 31st, 2024!
Average mortgage rates moved up nearly half a percent in April. As you'd expect, that hurt new and existing home sales. But rates have fallen since then thanks to cooler inflation, employment and retail sales figures. Will the move back to near 7% be enough to put the groove back in Spring sales? Rates hold around … [Read more...] about What’s Up with Real Estate This Week? May 31st, 2024!
Whats Up With Real Estate This Week? April 28th, 2024
Higher inventory levels are boosting transaction volumes for both existing and new homes as the spring selling season gets going. This despite average 30-yr mortgage rates remaining over 7.5%. It's a reminder that 'life happens' (the 6 D's of real estate), and when you gotta move, you gotta move! So here we … [Read more...] about Whats Up With Real Estate This Week? April 28th, 2024
