Let the "whipsaw" continue!

Global markets are rebounding early this week, even after a first attempt at a peace deal hit a speed bump. While things can change quickly, financial markets are currently signaling that the worst may be behind us. It’s a great reminder that markets are forward-looking. Money moves based on what we expect to happen next, not just what has already happened.

Looking Back vs. Looking Forward
The pending and closed sales data we are seeing now is a "look back" at February and early March, when we expected rates to stay around 6%. Then, the conflict in Iran sparked, oil prices rose, and mortgage rates adjusted upward because the market stopped expecting immediate rate cuts.

By this time next month, we will likely see lower pending and closed sales numbers. But again, that’s looking backward. My job is to look forward.

Where Rates Stand Today
If the current recovery continues, I expect to see rates dip back below 6% soon. Here is a look at where my preferred lender’s conventional rates landed on Monday:

The "What The???" Moment in Housing
My brother shared this screenshot with me yesterday, and it’s a big one:
 

These are national numbers, but the premise hits home here, too. Currently, active sellers outnumber buyers—even in a low-inventory environment.

What does this mean for you?
If you have the means to buy, the desire to move, and you're comfortable with the payment, the best time to strike was yesterday. There is still a window right now to take advantage of this rare lack of competition, but there’s no telling how long it will last. Once rates dip, that buyer line on the graph is going to head straight back up.

🏠 First-Time Homebuyer Workshop
The Sacramento Association of Realtors (S.A.R.) is hosting a First-Time Homebuyer Workshop this Saturday!

When: Saturday, April 18th | 10:00 AM – 2:00 PM

The Perks: Incredible info to jumpstart your journey, plus a chance to be one of seven $10,000 award winners.

I’ve already registered five potential buyers for this event. If you want to join them or learn more about the grants available, message me today.

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