The rapid price growth and intense competition of the past few years in the housing market is a thing of the past. While many markets remain seller-dominant, buyer demand has moderated due to high mortgage rates and affordability concerns. This might result in longer listing times and more negotiating room for buyers.
Dive into 2024 with Key Housing Market Metrics Read More »
The official unemployment rate, as reported by the Bureau of Labor Statistics (BLS) in their “The Employment Situation” report for December 2023, held steady at 3.7%. This matches the level reported in November 2023 and remains near historical lows.
Unemployment Remains Low, But There Are Signs of Weakening Read More »
The headline inflation reading was 3.4% for December 2023, showing an uptick from the previous month’s reading of 3.1% (bls.gov). Core CPI, excluding volatile food and energy prices, rose 0.3% for the month and 3.9% from a year ago.
Inflation is Cooling but Will Not Reach the Fed’s Target Rate of 2% in 2024 Read More »
At 7.79% in October 2023, the 30-year fixed mortgage rate reached its highest level since 2001 according to Freddie Mac data, but since then it has been experiencing a downward trend. The rate was at 6.66% on Jan 11th, 2024, 33 basis points higher than its level a year ago. However, mortgage rates have been at the 6.6% level for the last four weeks as economic data continues to show a strong economy.
Will Mortgage Rates Fall Enough to Unlock the Frozen Housing Supply? Read More »
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