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Market Update: Favorable Economic Data for Mortgage Markets! This week brought some positive news for mortgage markets as rates ended lower! ๐ Inflation was a bit below expectations, and consumer spending showed a notable shortfall. The Consumer Price Index (CPI), one of the most closely watched inflation indicators, dropped to 3.6%, moving closer to the Fed's target of 2%. The real estate market remains challenging. Recent data shows a 10% decrease in contracts signed last month compared to historical averages (995 vs. 1100). Most buyers today prefer turn-key properties, avoiding homes that need work. They want to stay liquid and secure a mortgage amount that covers everything. #RealEstate #MarketUpdate #MortgageRates #Inflation #HomeBuyers #SellersMarket #TurnKey #RealEstateTips #HousingMarket #EconomicNews @The Catalyst Team
Duration: 75 sPosted : Mon, 20 May 2024 16:15:21Views
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