Weekly Real Estate Update

April 5, 2024

How will strong consumer spending impact interest rates?

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The economy had solid growth in the first quarter with consumers feeling more confident about their financial well-being than last year. Their resilience in spending, however, is keeping inflation from falling and could create a real problem for the Fed in bringing down interest rates in the near term ...

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March 28, 2024

Rates Decline Slightly This Week After Fed Meeting

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The Fed delayed lowering the federal funds rate for at least six more weeks, but its latest projection suggested that the central bank still intends to have three rate cuts by the end of the year. Since the announcement, mortgage rates have declined slightly and should help mortgage application ...

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March 21, 2024

California Home Sales Reach Highest Level In 17 Months

 

Consumers have been feeling positive about buying and selling since the start of the year, and the latest housing market report released by C.A.R. reflected the improvement in optimism. Both supply and demand increased in February and the competitiveness of the market appeared to be heating ...

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March 14, 2024

Housing market continues to show promising signs... Market Update for 3/14/2024

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The housing market continues to show promising signs of a better spring homebuying season that we saw last year. Both closed and pending sales appear to have risen again in February and all signs point to a market that is heating up as days on market falls, the percentage ...

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March 7, 2024

New Expectations For Mortgage Rates - Market Update for 3/8/2024

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Recent economic reports suggest that inflation continues to cool from last year but may remain sticky in the short term. As a result, mortgage rates have been moving mostly sideways in the past couple of weeks. With the labor market easing and consumers spending less since the start of ...

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Feb. 29, 2024

Market Competitiveness Ramps Up As Inventory Remains Tight - Market Update for 3/1/2024

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After a dip in rates spurred a boost to housing in January, the recent increase back above 7% demonstrates that the rebound will be bumpy as pending sales cooled. Still, all signs indicate that buyers have begun to adjust to more normal rates than we enjoyed during the pandemic ...

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Feb. 22, 2024

California had a good start in 2024 - Market Update for 2/23/2024

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California had a good start in 2024 with both housing supply and buyer demand showing signs of improvement in January. While the market will likely face headwinds in the coming months as mortgage rates continue to fluctuate, the lending environment is expected to be more favorable in 2024. Rates ...

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Feb. 15, 2024

Market Momentum Is Improving - Market Update for 2/16/2024

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Housing affordability continued to be an issue at the end of last year and will likely remain a challenge for many homebuyers in 2024. With rates expected to decline in the next 12 months, however, recent reports suggest that consumers are beginning to feel more positive about the current ...

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Feb. 8, 2024

Fed Holds Rates Steady, But Warn They May Be Slow Coming Down - Market Update for 2/9/2024

The Federal Reserve left interest rates unchanged at their recent meeting and signaled that they will be closely monitoring the data for improving signs on inflation to begin lowering, but a better-than-expected employment figures for January drove 10-year Treasury prices down and bond and mortgage rates rising this past ...

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Feb. 1, 2024

Pending Sales Rising Year-to-Year in January - Market Update for 2/2/2024

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Recent economic data demonstrates that the U.S. has consistently out-performed the more gloomy outlooks that called for slower growth in 2023. While a stronger economy has, thus far, meant upward pressure on mortgage rates, the average 30-year fixed-rate mortgage remains below 7% where it has been since early ...

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