A quick look at the markets for the week ending July 19, 2024
30-Year Fixed Mortgage Rate Movement
Retail sales accelerated in July by the most since early 2023, coming in much higher than expected and signaling a resilient economy.
Inflation data showed a drop in both consumer and wholesale inflation. The Consumer Price Index fell below 3% for the first time since 2021.
Jobless claims fell for a second week to the lowest level since July, signaling the labor market isn’t weakening as much as speculated.
Builder confidence declined in August despite falling mortgage rates. Housing affordability remains a top concern for prospective homebuyers.
There are now 693K single-family homes on the market, a 1.3% increase for the week and almost 41% more than last year.
Mortgage apps reached their highest level since January 2023. Refinance apps jumped 35% and purchase apps rose 3% for the week.
We couldn’t be more excited – Bison Ventures is now licensed in Utah, our 17th state! 🎉 And no one was more thrilled than our Client Relations Coordinator @gabbie.hajjar who was so inspired she baked a cake in the shape of Utah to celebrate the big news! 🎂 Her energy mirrors how pumped we are to be expanding and helping even more families.
At Bison Ventures, we believe in celebrating every milestone, whether it’s with creative baked goods or by making the homeownership process as smooth as possible. We’re ready to bring our informed lending expertise to Utah and continue growing with you. Here’s to new adventures and sweet victories! 🏡✨
AGENTS! 📊 Get ready for the September edition of the Cromford Monthly Market Update with Senior Analyst Tina Tamboer! Tune in next Thursday to get the latest insights on the market trends that matter most. Don’t miss out on the knowledge that could elevate your business. Zoom link will be sent out soon—stay tuned! 🚀
Happy #nationaldogday 🐾 Meet Stanley, our ridiculously adorable Bison Office Rescue Dog! @ianthesullivan - please continue to bring him to work after Doggie Boot Camp!!!
Yesterday, the Bison Herd spent the afternoon at St. Mary’s Food Bank, giving back to a community that means so much to us. We’re big believers in the idea that small actions can make a big impact. If there’s a cause that matters to you, we encourage you to get involved—every bit helps. Together, we can make a difference.
Thank you @stmarysfoodbank for allowing us to contribute 😇
Back when we were hustling as The Crawford Team, building lasting relationships, and setting the stage for what Bison Ventures is today. Grateful for every lesson, partnership, and success that got us here. Here’s to the journey! 💼✨
▶️ Check out the latest Bison Brief with Stuart Crawford ▶️
RATES…what are we seeing? 📉
Currently, the national average for a 30-year fixed mortgage is around 6.75%, lower than the historical average (dating back to 1971). With limited housing supply and increasing demand, now might be the perfect time to make your move! 🚀
Looking for straightforward guidance from a team of seasoned loan officers? We’d love to chat. 🦬 bisonventures.com
🦬 Bison Ventures has been named a finalist in the @phxbizjournal Small Business Awards! We’re thrilled to be recognized alongside so many inspiring companies.
✨ As an emerging local business, being acknowledged for our entrepreneurial spirit and dedication to our community is incredibly rewarding. This nomination underscores our commitment to growth, innovative approach in the mortgage industry, and unwavering vision for the future. We’re incredibly proud to add this recognition to last year’s Best Places to Work award 🏆
A big thank you to the Phoenix Business Journal - your contributions to the Valley’s business community are invaluable! 💫