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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!

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What a week! We had a huge downward revision to the BLS' jobs growth figures, the Fed minutes explicitly said that a rate cut on Sept 18 was likely, and average mortgage rates moved below 6.5% (and are now 1% lower than they were a year ago). Fall/winter is always a great time to hunt for deals, and lower mortgage rates are improving affordability. Call me!

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"The time has come" to start cutting rates, said Fed Chairman Jerome Powell in his speech from Jackson Hole last Friday. Anticipating this, mortgage rates have already moved more than 1% lower in the last four months, improving mortgage affordability and making millions of loans refinance-able. Hope you enjoy this (rather exciting) weekly update on all things real estate!

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"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. But whether we'll get a 25 or 50 basis point cut will depend on the strength of the Bureau of Labor Statistics jobs report out today. Hope you enjoy my weekly update on all things real estate!

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A weaker than expected August BLS jobs report proved that July was no fluke. The labor market is clearly loosening up and this helped propel average mortgage rates into the low sixes. Odds are high for a 25 basis point Fed rate cut next week. Hope you enjoy my weekly update on national & local real estate!

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The Fed started its easing cycle with a BOOM - choosing to cut rates by 50 basis points (that's half a percent) on September 18. Mortgage rates had already moved sharply lower in anticipation of the Fed decision. Affordability is finally improving! Hope you enjoy my latest update on national and local real estate. I'd love to sit down with you to discuss your housing needs.

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With mortgage rates down sharply in the last 5 months, the volume of refinancing is already up big. But we have yet to see those lower rates translate to increased homebuyer demand. (BTW, this is historically the best week to buy a home!)

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Mortgage rates have drifted higher since the Fed rate cut, as job openings (JOLTs) and job growth (ADP) came out stronger than expected, and Fed Chairman Jerome Powell talked up the economy's strength. The market is now pricing in a further 25 basis points rate cut on November 7. Hope you enjoy my latest real estate update!

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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!

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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!

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It's been a very cruel October for would-be buyers, with average 30-yr mortgage rates spiking on concerns about job market strength, stubborn inflation, and fast-rising US debt levels. Looking on the bright side, however, inventory levels continue to rise and competition levels are falling.

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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, however yesterday and today have been favorable days for rates.

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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. I also have creative financing options to help get you a rate significantly lower than what the going rates are. Reach out if you want to discuss.

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October existing home sales increased on a year-over-year basis for the first time in more than 3 years. That's great news, but it's hard to say if that's just a 'blip' (mortgage rates have risen sharply since then) or a real bottoming in transaction volumes. In any case, I just want to express gratitude for all my past clients. Happy Thanksgiving!

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