Real Estate News 04/01/2024

Today’s News Synopsis:

The landscape of the US housing market is ever-evolving, and with it, the dynamics of mortgage rates. As we navigate through 2024, a noticeable trend has been the rising mortgage rates, which have become a topic of interest for potential homebuyers, investors, and economists alike.

In The News:

Norada Real Estate – “Understanding the Rise of Mortgage Rates in 2024“ (04-01-24)

“One of the primary drivers of mortgage rates is the monetary policy set by the Federal Reserve. The Fed’s decision to raise or lower interest rates can have a domino effect on the economy, influencing various rates, including those for mortgages.”

Yahoo Finance –  “New inflation reading ‘along the lines of what we want to see’: Fed’s Powell“ (03-30-2024)

“Federal Reserve Chair Jerome Powell said that a new inflation report released Friday is “along the lines of what we want to see,” sticking to an assertion that inflation is still on a “bumpy path” to the central bank’s goal of 2%.”

CNBC –  “Treasury yields jump to start second quarter” (04-01-24)

” Treasury yields rose Monday as investors kicked off the second quarter and weighed the latest U.S. inflation data.”

Redfin – “The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago” 03-29-2023)

“The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. ”

NAR – “March 2024 Commercial Real Estate Market Insights” (03-29-2023)

“During the second month of the year, the Commercial Real Estate (CRE) market presented a mixed picture, with certain sectors showing resilience while others continued to face uncertainties and losses.