Wow, what a week in the bond market last week.  A lot of economic data came out last week in favor of holding the fed funds rate steady.  The FOMC meeting happened as well, Mr. Powell reiterated the need to hold firm and let things play out in the economy instead of continuing to raise rates until something breaks.  We don't have to break anything.  The data in unemployment, jobs reports, subtle wage decreases, increase in productivity, and continual improvements in inflation measures across the board are contributing to this hold steady approach.  The Fed doesn't have to pivot for their to be a significant change in the mortgage rates.  The bond market will do it for us.  Early last week the 10yr bond treasury yield that I watch closely was very close to 5%, it ended the week at 4.573%.  In mortgage rate terms, we started the week near 8% and ended under 7.5%.  This is a welcome change.  I will continue to monitor these movements closely.  What we want to see now is duration.  We want the 10yr treasury yield to continue its movement lower.  These large fluctuations are consistent with volatility when we are at or near tops or bottoms of a move.
We continue to be at very low levels of inventory.  A continued move lower in mortgages is one thing, but what we really want to see is duration.  We want to see a move lower and hold lower.  Once that happens, purchase applications will tick up week after week bringing the demand and competition.

My family and I are going to Santa Cruz this weekend.  It's an annual trip for us.  Let me know if you have some favorite spots outside of the usual suspects.

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

This charming property offers the perfect blend of classic appeal and modern updates, making it a must-see! As you approach, you'll be greeted by a spacious front porch, set on a generous lot. The backyard is a landscaper's paradise, ready for outdoor gatherings, gardening, or simply enjoying the outdoors in tranquility. Plenty of room for a pool or ADU or both! Step inside and discover the heart of this home, with 3 bedrooms and beautifully remodeled bathroom, offering both comfort and style. The kitchen features shaker cabinets, brass hardware, and updated lighting fixtures that give it a contemporary touch while maintaining its classic charm. Cooking and entertaining have never been more enjoyable. The bathroom is a true oasis, marble tile surrounds the beautiful freestanding tub and walk in shower along with updated fixtures and tile flooring. Throughout the home are newly installed windows allowing an abundance of natural light. This ranch-style gem is a rare find, offering a perfect blend of outdoor space, modern upgrades, and timeless appeal. Don't miss your chance to call it your own!

  Listed at $435,000 by Dawn Reddoch - GUIDE Real Estate
3956 Rosemary Cir, Sacramento, CA 95821

Know someone who may be interested? Let me know at paul@guiderealestate.com

*These rates are courtesy of Dara Delgado - Home Loans*