Home Prices, Stock Market Continue Going Up
Despite persistent elevated interest rates, home prices increased in 93% of the country's metro areas. Recent reports are showing that the economy is showing some signs of slowing down....retail sales remained flat which is a sign that higher interest rates and inflation have started to slow the consumer down. The recent inflation report, which came in at 3.4%, signals that prices are easing, good news for the Fed and interest rates.
Good news is that mortgage rates have been trending down the last two weeks. While inventory has increased over the last few weeks buyer demand remains strong, no doubt bolstered by lower mortgage rates.
For some added long weekend pleasure, here are America's most expensive homes, including a $58M, on San Juan Island in Washington.
Check out the market stats below..... Have a great Memorial Day Weekend!
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Weekly national mortgage rates for loans under $400,000, top credit scores:
30 yr. fixed rate
7.02
15 yr. fixed rate
6.48
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Ana Connell 818.795.8474
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17 Things Buyers Should Check On Final Walk-Through
