A quick look at the markets for the week ending December 1, 2023
30 Year Fixed Mortgage Rate Movement
The Fed’s preferred gauge of inflation, as measured by personal spending, increased by 3.5% year over year in October, meeting expectations.
New home sales fell last month, coming in below analysts’ expectations. The drop was likely due to mortgage rates reaching a 2023 high.
Consumer confidence rose in November after 3 straight monthly declines, though two-thirds of consumers think a recession is likely in 2024.
The Fed released data showing economic activity slowed in recent weeks as consumers pulled back on discretionary spending.
New home sales fell last month, coming in below analysts’ expectations. The drop was likely due to mortgage rates’ reaching a 2023 high.
Pending home sales also dropped in October, hitting a record low. Limited housing inventory added to the challenge of affordability.
However, mortgage rates have come down from October’s highs. Purchase mortgage applications were up 5% for the week.
“Do what you can, with what you have, where you are.” Theodore Roosevelt
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! 💫