Los Feliz

You’ve likely seen the news that the 30-year fixed-rate mortgage dipped below 6%, a level it’s not seen since the mid-2022.  Clearly, this encouraging news improves buyer purchasing power yet nevertheless we are still facing huge inflationary increases. Platforms that focus on Consumer Confidence report what you and I see whenever we go to the grocery store or the gas pumps.  So in spite of the positive news of the drop in fixed-rate mortgages, the buying power of first time and repeat buyers is still affected.  Next week could be different! Generally speaking, the first week of any given month offers several top tier economic reports culminating in jobs reports and that has the potential to cause volatility in the rates.