Here is a quick housing market Update from our preferred lender john gilfedder.
Not a big fan of videos? Here's a summary.
Mortgage Rates:
Stayed relatively stable throughout March.
Began the month at 6.63% and ended at 6.65%.
Inflation (Consumer Price Index):
Dropped from 2.8% to 2.4%, a positive trend toward the Fed’s target of 2%.
The decline was largely due to lower gas and energy prices.
Food prices saw a slight increase.
Job Market & Economy:
Job reports still indicate a strong and robust economy.
However, there are early signs of economic weakening to keep an eye on.
Tariffs:
New tariffs are expected to go into effect in early April.
We’ll need to monitor their impact on the economy as April progresses.
Housing Market Insight:
Still a good time to buy due to less competition.
Potential to negotiate seller concessions to help buy down interest rates.
Opportunity to make mortgage payments more affordable now and refinance later.
Information Provided by John Gilfedder
- Phone: (720) 285-9854
- Email: john.gilfedder@elevationscu.com
