Here is our January 2025 Market update from our preferred lender John Gilfedder!
January Market Update
In January, the Consumer Price Index (CPI) increased slightly, rising just over 3%, while overall inflation remained at 2.89%, still above the Federal Reserve’s 2% target. As a result, the Fed chose not to cut interest rates, citing a strong economy and persistent inflation.
The job market also exceeded expectations, adding 289,000 jobs, which was higher than anticipated. The unemployment rate improved, dropping to 4.1%. However, for interest rates to decrease, the economy still needs to slow down, and inflation must fall below 2.89%.
Mortgage rates remained fairly stable throughout January, averaging between 6.5% and 6.75%. Additionally, with Trump taking office on January 20, we may see economic policy changes, including potential tariffs and tax adjustments, which could impact inflation and market conditions in the months ahead.
If you’re considering buying a home, now could be a great time, as competition remains low. Feel free to reach out to discuss your financial situation and explore whether now is the right time for you to make a move.
Contact us:
John Gilfedder: Phone: (720) 285-9854 Email: john.gilfedder@elevationscu.com
Chris Kassel: Phone: (303) 550-4482 Email: chris@kasselrealty.com
Anna Kassel: Phone: (720) 909-1469 Email: anna@kasselrealty.com
