MARCH 2024 - RESIDENTIAL MARKET UPDATE

Click on Image to View Full Newsletter

The Federal Reserve started their two-day meeting yesterday, and by end of day today, we will have a good idea on how mortgage rates will be affected. The greater market is certain they will hold rates and not start decreasing rates until later this year, but the real focus will be on the sentiment of Jerome Powell, the Feb Chair. As he and the other board members make public statements, it will greatly impact bond markets and could help stabilize the downward trend of mortgage rates or keep us in the same volatile market with sizeable daily fluctuations. We also have big changes coming to the industry on July 1st that will impact how commissions are paid to Realtors, and the max amount of security deposits on rental properties, and much more. It has never been more important to have the best real estate brokerage in your back pocket to help you navigate all things residential real estate. We are here to be your personal resource and for your referrals.