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Fed Funds Rate Unchanged

Fed Funds Rate Unchanged

May 09, 2024

The Federal Reserve 's Open Market Committee met early May and decided to leave the fed funds rate unchanged, citing a strong economy and inflation that has failed to make any progress over the most recent couple of months.  On the other hand, the most recent jobs data came in well below expectations at 175k, suggesting that the labor market cooling trend may have already started.  With a weaker than expected jobs report and the Fed hinting that a rate hike is unlikely, mortgage rates ended at the lowest levels since late March and provided hopes that rates may start to creep down as we approach the second half of the year.  The central bank also suggested; however, that it will likely hold rates at their current level longer rather than raise rates again.

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San Diego is #1

San Diego is #1

March 8, 2024

San Diego is #1!  San Diegans who own detached single family homes will be happy to hear that the value of their houses has continued to rise, more so even than any major city in the country. 

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Rates Drop 1% in Last 3 Months

Rates Drop 1% in Last 3 Months

January 18, 2024

Americans are feeling more confident about the housing market at the beginning 2024 as buyers and sellers start seeing a glimpse of hope at the end of the tunnel. 

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Are Home Prices Rising or Falling?

Are Home Prices Rising or Falling?

November 13, 2023

The housing market needed a break and the Federal Reserve delivered it at their latest FOMC meeting in early November.

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Where Are All The Houses For Sale

Where Are All The Houses For Sale

The summer of 2023 has been characterized by a low inventory, homeowners unwilling to sell, low demand and a low number of closed sales.  The higher mortgage rate environment impacted many real estate statistics and resulted in a very cool summer.

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