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Townstone Financial Show: 2024 LEAP YEAR EDITION!
šļø AND WEāRE LIVE!!!! NMLS#136639
š
Todayās Episode: āMortgage Rates: Riding the Roller CoasterāWhatās Next?āš¢
In a world of economic twists and turns, mortgage rates have been on a wild ride. Letās explore the latest trends and what lies ahead. Buckle up! šš
After rising sharply through October 2023, mortgage rates trended back down. As of January 31, 2024, the average rate on a 30-year mortgage was 6.84 percent, which represented a welcome drop from 8.01 percent on October 25th 2023. Rates have climbed back up with a reported 7.13% average rate for a 30-year fixed mortgage as of February 21, 2024.
But itās not all doom-and-gloom for homeowners and future homebuyers: A spiraling CRE (Commercial Real Estate) office market threatens the stability of regional banks, who may lobby for lower rates from the Fed to help valuation in the office market space and avoid a banking crisis. āReturn to officeā is being pushed by the higher-ups to avoid further meltdown in the CRE sector. And you thought it was just your boss who missed seeing your face in the office!
As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/
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By Barry Sturner and Zach Schwartz
5
22 ratings
šļø AND WEāRE LIVE!!!! NMLS#136639
š
Todayās Episode: āMortgage Rates: Riding the Roller CoasterāWhatās Next?āš¢
In a world of economic twists and turns, mortgage rates have been on a wild ride. Letās explore the latest trends and what lies ahead. Buckle up! šš
After rising sharply through October 2023, mortgage rates trended back down. As of January 31, 2024, the average rate on a 30-year mortgage was 6.84 percent, which represented a welcome drop from 8.01 percent on October 25th 2023. Rates have climbed back up with a reported 7.13% average rate for a 30-year fixed mortgage as of February 21, 2024.
But itās not all doom-and-gloom for homeowners and future homebuyers: A spiraling CRE (Commercial Real Estate) office market threatens the stability of regional banks, who may lobby for lower rates from the Fed to help valuation in the office market space and avoid a banking crisis. āReturn to officeā is being pushed by the higher-ups to avoid further meltdown in the CRE sector. And you thought it was just your boss who missed seeing your face in the office!
As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/