08/05/2022
August Market Update:
Inflation and recession remained the economy’s focal points last week. Despite the Feds’ decision to remain aggressive in their rate hike move, weaker-than-expected economic growth in the second quarter prompted interest rates to decline further since the release of the latest GDP report. The average 30-year fixed rate mortgage, in fact, dipped to the lowest level since mid-April, according to Mortgage News Daily. The slightly more favorable lending environment, coupled with a higher level of housing supply, may have provided a window of opportunity for homebuyers who have been standing on the sideline for the past few months.
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👨🏽💼Coldwell Banker®️ Southern California Realtor
🏡 CalRe: 02140021
☎️ (619)288-0990
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