Consumer confidence is high in our market, and it’s a great time to buy or sell.
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As we move through August 2019, some interesting market developments are taking place.
First, the federal interest rate was recently cut by 0.25%, which is the first time since 2008 that the Federal Reserve has cut interest rates. Additionally, the ADP’s latest employment report exceeded expectations. Because of this, consumer confidence reached an 18-year high and the pending home sales index increased.
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I check mortgage rates each and every day, and right before I filmed this video, I saw that the 30-year fixed rate was at 2.75%.
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I check mortgage rates each and every day, and right before I filmed this video, I saw that the 30-year fixed rate was at 2.75%.
What does this mean for mortgage rates? At the end of the day, not much. A few months after this type of thing happens, though, we usually see rates drop. I check mortgage rates each and every day, and right before I filmed this video, I saw that the 30-year fixed rate was at 2.75%. Just a few months ago, we were telling our clients to not be surprised if they saw rates hover between 4.75% and 5.25%.
The bottom line is that it’s a great time to buy or sell.
If you have any more questions about our Jonesboro market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.
