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Tips for Buyers in a tight market, Mortgage Rates and Inflation plus the Brilliant Health Institute
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Welcome real estate fans to another episode of Seattle's Real Estate Podcast! I’m Dan Edwards your host and I am here to provide the inside scoop on living, working, and playing across the Greater Seattle Area Including the Eastside. It's Wednesday, March 13th 2024
Tips for Home Buyers in a Unique Market
- Be ready
- Get Creative
- Hire a professional with connections.
- Recent Mortgage Rate Trends:
- Dan - Mortgage rates have been fluctuating recently.
- Tucker - Last week, they dipped to their lowest level since early February, providing some relief for homebuyers who have been dealing with high borrowing costs over the past two years.
- Weekly mortgage demand has surged as the average rate on the 30-year fixed mortgage dropped below 7%2. This trend could impact home buying decisions.
- Inflation and Its Impact on Mortgage Rates:
- Dan - Inflation plays a crucial role in determining mortgage rates.
- Tucker - Historically, when inflation rises, mortgage rates tend to follow suit. Cooler inflation and interest rate cuts from the Federal Reserve may help mortgage rates fall this year.
- The recent Consumer Price Index (CPI) data showed a rise of 3.2% over the past 12 months, slightly higher than expected. How this inflation data affects mortgage rates is worth discussing3.
- Fed’s Monetary Policy and Rate Hikes:
- Dan - What is the FED up to now?
Tucker - The Federal Reserve has been adjusting interest rates to control inflation. Over the last two years, they’ve raised rates 11 times, which impacted home loan rates. Understanding this indirect relationship between rate hikes and mortgage rates is essential.
Claudia Arregoytia is a functional & lifestyle medicine doctor who specializes in energy, gut health, weight loss and longevity.
3 Weight Loss Myths! Learn how to optimize for weight loss.
www.brillianthhealthinstitute.com
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