Andrew Jensen, Realtor - Equity Real Estate

12/25/2024

06/24/2024

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟮𝟰, 𝟮𝟬𝟮𝟰

𝗟𝗮𝘀𝘁 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗥𝗲𝗰𝗮𝗽: 𝗥𝗮𝘁𝗲𝘀 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Rates were basically unchanged last week, not only for the week but with very little movement day-to-day. Overall it was a very quiet week for rates.

𝗧𝗵𝗶𝘀 𝗪𝗲𝗲𝗸'𝘀 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗺𝗮𝘆 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 👍
Mortgage rates shouldn't move much this week, but could improve a little bit if this week's inflation data comes in as expected. Keep in mind though that we could see a lot more volatility next week with labor data and the Independence Day holiday.

📈 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: There's really not a lot happening this week although Thursday will bring the final GDP numbers for the first quarter. It isn't likely this data has a big effect on mortgage rates though.
- Inflation data: Friday will bring the Fed's favored inflation gauge, which is expected to show the slowest inflation since late last year and open the door to possible Fed rate cuts later this year.
- The Fed: Mortgage rates will remain near the current levels as long as markets believe the Fed will cut rates later this year. Markets are currently expecting the Fed to cut rates starting in September and to cut rates twice by the end of the year. If markets believe the economic and labor market data would require the Fed to cut rates sooner or more aggressively, that would help mortgage rates improve. That is why next week's labor market data will be important to mortgage rates.

06/21/2024

Check out my website. Here you can search for your dream home, find out how much your home is worth if you are planning on selling, and much more!

05/26/2024

Hey everyone head on over to this page and see what is on the market. You might even find your dream home, and when you do get in touch with me!

07/20/2023

Check out the June 2023 housing statistics from UtahRealEstate.com! 🏠🏠🏠

07/03/2023

05/18/2023

Buy one get one for HuHot. Let me know if you want one and I'll get one to you.

05/06/2023

🏡 Despite higher mortgage rates, home prices​ really haven't come down in most markets and some people are still talking about a housing bubble.

The reality though is that 𝗪𝗘 𝗔𝗥𝗘 𝗡𝗢𝗧 𝗜𝗡 𝗔 𝗛𝗢𝗨𝗦𝗜𝗡𝗚 𝗕𝗨𝗕𝗕𝗟𝗘.

𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝟯 𝗿𝗲𝗮𝘀𝗼𝗻𝘀 that this market is totally different than the housing bubble we experienced a little over a decade ago...

✅ 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝘀𝘂𝗽𝗽𝗹𝘆 𝗶𝘀 𝗲𝘅𝘁𝗿𝗲𝗺𝗲𝗹𝘆 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 🏡
Despite higher mortgage rates, home buying demand remains strong. According to the National Association of Realtors, multiple offers are still occurring on about a third of all listings, and 28% of homes are selling above list price.

✅ 𝗛𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿𝘀 𝗮𝗿𝗲 𝗺𝗼𝗿𝗲 𝗰𝗿𝗲𝗱𝗶𝘁𝘄𝗼𝗿𝘁𝗵𝘆 👍
In 2008, when the housing market crashed, mortgage standards were at an all time low for credit scores and down payment requirements, as well as proving income and assets to purchase. Current guidelines are much stricter, making the borrowers more financially secure.

✅ 𝗛𝗼𝗺𝗲𝘀 𝗵𝗮𝘃𝗲 𝗲𝗾𝘂𝗶𝘁𝘆 📈
Homeowners were pulling out equity back in 2008, causing many to be upside down. This time around equity levels are extremely high, meaning that homeowners could see values decline slightly without concern.

𝗥𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝗮𝗻𝘆𝘁𝗶𝗺𝗲 𝘀𝗼 𝗜 𝗰𝗮𝗻 𝘀𝗵𝗼𝘄 𝘆𝗼𝘂 𝘄𝗵𝘆 𝗻𝗼𝘄 𝗶𝘀 𝗮 𝗚𝗥𝗘𝗔𝗧 𝘁𝗶𝗺𝗲 𝘁𝗼 𝗯𝘂𝘆 𝗮 𝗵𝗼𝗺𝗲, 𝗮𝗻𝗱 𝘄𝗵𝘆 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗰𝗼𝘂𝗹𝗱 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝘆 𝗰𝗼𝘀𝘁 𝘆𝗼𝘂 𝘀𝗼 𝗺𝘂𝗰𝗵 𝗺𝗼𝗿𝗲!