Welcome, officially, to 2024!

I hope everyone welcomed the New Year safely, and I hope everyone is looking forward to an amazing year.  I know I am.

We are in an election year, which mean the gloves come off and anything can happen, but one thing I know for sure.  The housing market needs to get back to normal.  How does that happen?  It starts and ends with the 10yr treasury bond yield.  The 10yr treasury bond yield is our North star to track the movements of our beloved 30yr mortgage rates.  The ultimate hedge against inflation, and the greatest gift to American homeowners.  Just ask a friend living in Canada or the UK.  30yr mortgage rates will determine housing affordability for the year, as home prices refuse to budge.  We want to see 30yr mortgage rates continue their recent downward trend, remain lower ( under 6.5%, hopefully lower, can we see a 5 number?) and decrease the volatility (it's jumpiness).  As we track this, we want to see a continuation of positive mortgage application prints, more listings come on the market as sellers get more comfortable (traditional buyers are sellers) and thus, sales volume/activity picks up. We have seen three years of historically low sales volume levels, it's time for a sea change.

I have big goals this year and I need your help.  My business is referral based.  If you know anyone, or come across anyone in need of my services to sell, buy, both or invest, please give them my name and contact info, or simply share this newsletter with them. It would mean the world to me.

What are you seeing or hearing? I'd love to know paul@guiderealestate.com
Visit www.paulpelettarealtor.com