Housing Market & Rates Update - What Buyers & Sellers Should Know 🌟

Mortgage rates have ticked up to their highest point in over two weeks, and while bond markets have stayed relatively steady, they haven’t given rates much relief. In the short term, we could see rates continue to creep upward, especially as the 10-year Treasury yield rises. Long-term, no major jumps are expected, but economic data will be the key driver moving forward.

Last week, stronger-than-expected labor market data—higher job openings and job quits—signaled resilience, which usually puts upward pressure on rates. Inflation data came in mixed. Wholesale inflation was cooler but not in impactful areas, while core CPI was lower than forecasted. Despite this, rates didn’t move favorably due to stubborn categories like shelter costs inching up and energy and food prices increasing slightly.

The Federal Reserve’s Chair Jerome Powell commented that the U.S. economy is still in a good place, despite lingering uncertainty. However, the market wasn’t fully reassured, and bonds lost ground by week’s end. Inflation continues to run hotter than the Fed's target, and Powell confirmed tariffs aren’t a focus for policy action just yet.

Looking ahead, this week will bring new housing reports and another Fed press conference. No major announcements are expected, but as always, rates will respond to shifts in the bond market and economic data.

💡 Pro Insight: While it’s tempting to focus on mortgage rates, the real conversation is about the overall cost of housing and taking advantage of today’s less competitive market. The smart move is to act based on your personal housing needs—not the rate headlines! Reach out to ask about how Seller's concessions are being utilized to help bring down a buyer's mortgage payment temporarily, which greatly impacts affordability. 

👉 Ready to navigate this market with confidence? Let’s chat about your next steps! 🏡