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February 2023 - Residential Housing Market Update

February 2023 - Residential Housing Market Update

The housing market is a roller coaster right now all thanks to mortgage rates!

The Fed's had their meeting on February 1st and the market responded favorably after the Fed's Fund rate increased by only a quarter percent, as expected.  

The bond market rallied around this news and mortgage rates came down to a new low over the last six months. But that did not last long, not even 48 hours before rates started an upward trajectory.  In prior weeks, the housing market was enjoying the many gradual declines in mortgage rates, which definitely got buyers back into the market. 

My recommendation to buyers and sellers remains the same, be ready, have a plan & strategy, and with the right brokerage behind you, you can find your win in this highly volatile market. 

Give us a call at Bear Flag and let us help you plan your next move. 

Talk soon - Martin

Buy • Sell • Home Loans • Property Management 

To view the market video or February Newsletter click here

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