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Another wild week! Last week we saw massive fluctuations in our beloved 10yr yield, ranging from 3.88% all the way back to 4.5%. We really want to see the yield stay below 4.5%. A move higher could spell disaster for mortgage rates. As of this writing, mortgage rates have been able to remain slightly below 7%.
As we look below at the monthly market update, we see the annual pick up in sellers coming on to the market coupled with more sales activity. As discussed last week, this seasonal pickup in homes for sale gives buyers more to choose from and at some slight discounts. Savvy buyers that were already prepared also got to enjoy decreasing mortgage rates if they pulled the trigger within the last three weeks or so.
I personally will have some listings coming up over the coming weeks, so be on the lookout. I am still actively sending lots of postcards, hand written letters and making phone calls to targeted homeowners in Sacramento and also a small subset in Vallejo, CA. The goal is get my name and face in front of as many homeowners as possible for when sales activity really picks up. If you know of anyone starting to consider buying or selling, please have them reach out!
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