Hello April!  It's a good thing Wednesday didn't land on today because I had a really good April Fool's prank.  Oh well, maybe next year.

"Liberation Day".  Let's see how the day plays out and what exactly goes into effect regarding tariffs.  Anything that is implemented will take weeks and months to work through the system.  The 10yr yield is predicting more of stagflation than inflation.  Stagflation sounds...not great, as it combines higher prices from the tariffs and slower economic growth.
Once again, we'll need to wait and see how everything once announced plays out, how leaders and countries react, what is actually enacted, what is left out.  These are all things I'll be watching.
The 10yr yield news means mortgage rates can finally break lower, but that still leaves us with uncertainty.  We'll need to continue to watch purchase applications and foot traffic at listings as we continue into Spring.  Another thing to watch is the fear mongering being spewed right now regarding the housing market amongst this uncertainty.  These two charts are important to watch and show as of now there is nothing to ring the alarm bells about...we aren't even above pre-pandemic levels.  Let's be sure to let the data lead the way.  See you next week.
 

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