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Inflation, interest rates, stock markets, and more... |
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August, so far, has not been kind with economic indicators, though they can change direction very quickly. The daily average interest rate has been rapidly climbing in the last 10 days. Note that the daily, weekly, and jumbo average rates are calculated by different sources, using different methodologies. Trends will be similar, but readings vary. And different lenders can offer a wide array of different loans. |
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Weekly average interest rate (as of 8/17/23) ticked back up over 7%: About the same as in November, which was a 20+ year high. |
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Stock markets: Still well up in 2023, but have dropped since the late-July highs (but significant changes can occur daily). |
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Unusually, jumbo rates have been ticking above conforming rates in recent months: While conforming rates are about the same as last November, jumbo rates are now higher. |
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If you're interested in national median sales prices: The July 2023 price was up slightly year over year. |
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New Census data on why people move in the U.S.: |
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Frequency of selling: The latest data is through 2021. Even before the "mortgage lock-in" effect impacted the number of new listings coming on market, inventory was falling due to the big decline in turnover. Generally speaking, younger homeowners sell (much) more often than older age segments (up to 75), and condo owners sell (much) more often than house owners. |
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Q2 data on U.S. mortgage delinquency just came out. The delinquency rate remains close to the historic low. |
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Stay up-to-date with the latest real estate news and information with our new text alert service! Register now to receive timely updates and notifications straight to your phone. Don’t miss out on important events and happenings - sign up today by clicking on the link provided. |
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| Current Active Listings per Town |
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| Please see my website for a comprehensive list of sales |
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| | | sharon.kramlich@compass.com |
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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