Please enjoy this quick update on what’s happening this week in the housing and financial markets.
The Fed’s economic targets for raising rates have been removed, and tapering continues. The initial reaction to this was lower stock prices and higher rates.
By the latest popular measures, inflation is running low. This is usually good news for rates but was ignored after the Fed’s meeting this week.
Geo-political influence, primarily from Ukraine, continues to see-saw markets.
February housing results are coming in. So far, we’re seeing lower inventory, slower sales, yet mostly higher prices.
Experts are citing three critical positives for spring and summer home sales: pent-up demand, increasing construction and a gradually improving economy.
Reports of loosening credit are growing. This is a positive sign for markets opening to more potential homebuyers.
When the lodge meeting broke up, John confided to a friend. “Mike, I’m in a terrible pickle! I’m strapped for cash, and I haven’t the slightest idea where I’m going to get it!”
“I’m glad to hear that,” answered Mike. “I was afraid you might have an idea you could borrow it from me!”
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.