Tabitha Burroughs - Realtor

We have a big week of economic data coming. The Consumer Price Index will released Wednesday and Producer Price Index tomorrow. Both reports have the potential to move interest rates.

“Impossible for home sales to stay this low” - Lawrence Yun, NAR chief economist. “Long term growth in the U.S. population ensures elevated home buying activity in the near future. 🥂🎉

Yun is predicting home sales to jump almost 10% from last year. He is also predicting a decline in interest rates and rents. (Let’s all hope he’s right)

According to mortgage news daily, national average rates today will be around:

7.125% conventional 30 yr
6.5% conventional 15 yr
6.5% FHA
6.5% VA

**Please let me know if you need anything this week**

Are property values rising or falling? What's the demand like in your area?

Here’s your update:
You may hear the terms “hawkish” and “dovish” when the media mentions the Fed’s sentiment. Here is what that means: Hawkish = policy makers who favor higher interest rates to keep inflation in check. Dovish = policy makers who promote monetary policy that usually involve lower interest rates.

The “Hawks” have been out lately throwing some cold water on the markets cautioning against cutting rates too soon. The markets have reacted. According to mortgage news daily, national average rates today are:

6.89% conventional 30 yr
6.17% conventional 15 yr
6.14% FHA
6.15% VA

Let me know if you need anything! I’ll be around and happy to help...

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Brrr it's Cold Outside!🥶🥶