I recently heard an old saying, “When fishermen can’t fish, they mend their nets”
If you’re like me, you may be taking the time to consider what options you have now and when this period inevitably ends.
This is a particularly volatile time for real estate. Over the last several weeks, interest rates dropped dramatically. However, in the last few weeks, rates went up (although not very much). Much of the rise was due to the Stock Market, but the experts say a lot of the increase was due to profit taking by lenders due to the high volumes of loans. Well, two things have occurred that may affect rates again. The Fed has dropped the Prime Rate dramatically, and the sales market is down. I don’t know what all that means but we will let you know as the markets change.
Due to our leadership positions in the California and National Association of Realtors, we are on top of the literally moment-by-moment changes occurring in the real estate market, and are the first to be aware of them.
We are committed to keep you informed so you can make the best decisions for you and your families. You will be hearing from us again soon with updates as the market evolves.