Will this week’s cracks in the inflation dam flood the real estate market with transactions?
July 12, 2024
Weekly Newsletter July 8th-12th
Interest Rates
| 30-yr fixed | 6.94% |
| 15-yr fixed | 6.41% |
| 30-yr fixed FHA | 6.74% |
| 30-yr fixed VA | 6.79% |
Inflation Week
This week, the Consumer Price Index showed a higher-than-expected decline in inflation, giving mortgage rates a very healthy boost above several ceilings that had been keeping them from making any significant improvement. With this inflation data, speculation of a future Fed rate cut grew strong again as early as September. Forecasted economic data seems to be on track, indicating continued, improved mortgage rates throughout the year. Watch those headlines turn positive now!
These mortgage rates are estimated by a third party using industry averages for owner-occupied properties and do not include refinancing options. Rates may vary based on availability and lender approval.
My Favorite Things-Consuming and Sharing Information
Lately, I have been on a consumption kick. My commodity of choice? Information! I feel like I’ve learned more personally and professionally this summer than I did in my entire time in college! Learning more about things is empowering, but I don’t want to keep any of it to myself! I will continue to share my knowledge on video and in the blog in the coming weeks. I can’t wait to share it with you and get your feedback. More to come. Let me know what you are consuming personally and professionally these days. I would love to hear different perspectives from my own!
Show Me the Numbers-Could Your Listing(s) Use Some Love?
With inventory on the rise, those listings that need some “love” are sitting slightly longer than a seller may want. Why not share the numbers around a buyer’s “vision” for the house with renovation financing? Let me put together some collateral for you to share, showing the cost of a renovation rolled into a purchase loan. Contact me with the details!