Market Update 2/9

    The outlook for 2018 is good for the economy.

    For the Week Ending February 9, 2018
    Please enjoy this quick update on what happened this week in the housing and financial markets.

     

    Mortgage rates have consistently crept up a little each week through 2018, hitting 4-year highs. Even still, rates are historically low, which may make it a good time to buy.
    The rising bond yields responsible for higher mortgage rates have also shaken up the stock markets. There is a lot of fear that we may see accelerated inflation.
    The outlook for 2018 is good for the economy, and the Fed is expected to raise policy rates. It’s likely mortgage rates will increase some more this year.

     

    Mortgage applications have been on the rise recently despite higher rates. Applications were up 5% last week compared to the same time last year.
    Swift price increases and inventory shortages are frustrating renters looking to purchase. Still, 58% of those polled say now is a good time to buy.
    Robot open houses? Technology at San Francisco-based Zenplace enables agents to show properties remotely. A live agent speaks through a video monitor and controls the robot’s movements.

     

     

    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.

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    Our agents write often to give you the latest insights on owning a home or property in the local area.