Many key factors affect mortgage rates, with global financial market trends leading the indicators. Rates dropped quickly this week according to this article: Mortgage Rates Drop Quickly as Market Panic Sets In, written by Matthew Graham, dated May 23, 2019.
What makes a residential property interesting to you may be quite different than what makes a property interesting to your friends, family, neighbor or co-worker. We aren’t talking about your typical home, we’re talking about uniquely interesting homes. Maybe who owns it or owned it makes it interesting, like the homes of the rich and famous. Maybe the original architect is notorious. Or maybe there is some other surprise that makes a home unique.
Federal Reserve Chairman Jerome Powell announced at a press conference in April: It’s “a great time to be patient”. This statement followed the Federal Reserve vote to hold interest rates steady.
In many US cities home price increases have outpaced wage growth for several years. Recent months have shown lower increases, creating a buyer’s market as we enter the Spring home buying season.