Lowest Rates of the Year
Another crazy week in real estate!
Lower mortgage rates are spurring housing demand
In spite of so many negative headlines, the housing market is showing good signs going into the spring homebuying season.
Mortgage rates just dropped lower than they have been all year. If they keep trending toward 6%, we could end up seeing a lot more home sales this year than last. Applications for purchase mortgages are already picking up.
New listings data is also encouraging, showing substantial growth compared to previous years, indicating a gradual return to a more balanced market.
New Tariffs Likely to Result in Volatile Mortgage Rates, Higher Construction Costs
The tariff news brought mortgage rates to their lowest levels this year. Why? Well, basically:
Tariffs = Economic Uncertainty
Uncertainty = Investors Shift Money into Bonds (Including Mortgage Bonds!)
Higher Demand for Bonds = Mortgage Rates Drop
This is great news for today. But it’s very risky right now. Rates could easily go the other way. Any hint of the tariffs causing inflation will drive rates higher quickly.
The bottom line is Nobody knows. "There are no billionaire economists."
Open House Mastery Training with Renee Funk!
If you've ever left an open house wondering if it was worth your time, this is real training from a real pro. Join Renee’s 3-part Virtual Training Series to learn a fresh approach leading to meaningful interactions, lasting connections, and positioning yourself as a community ambassador
Let me know if you’re going — I’ll be tuning in too. Let’s get better together.
Top Social Videos:
Quick Links:
Have a great week! Reach out if I can help you with anything!
Daniel Jackson
Senior Loan Officer
NOVA Home Loans
Team Hotline: 928.329.5959
Cell: 928.550.8744
Fax: 928.726.7366
[email protected]
www.YumaLender.com
NMLS: 169485
Read previous issues here: Mortgage Rant Blog
Current Mortgage Rate snapshot:
