Whenever there happens to be some saber-rattling with trade and tariff issues, the stock markets react. And, that can be seen with the volleying between U.S. and China. It can also be seen in the recent volleying with Mexico. Although, while some selling of equities by investors has been the result, it did not move the May 2019 market barometer up or down by much. At the same time, safer investments were made in bonds and U.S. Treasuries. That said, what about the May 2019 real estate market barometer? What does it tell us about recent trends in nationwide housing activity?
May 2019 Real Estate Market Barometer On Interest Rates & Housing
According to Freddie Mac data, the average offered rate, for a conforming 30-year FRM cracked the 4% mark. And, it cracked that percentile for the first time, since January 2018. At the same time, a months-long downtrend left the benchmark mortgage rate at 3.99%. In fact, May 2019 real estate market barometer shows the downtrend in play and points to a continuation, at least through 3rd quarter. As a result, it may be that the benchmark mortgage could slide slightly. And, much like the end of 3rd quarter 2017, it may settle in the 3.8-% range soon. Although, we just have to wait and see.
With lower mortgage rates in play and on the horizon, what about the real estate housing market? Shouldn’t it pick up some? Interestingly, it hasn’t. Instead, it remains moderate, as of the end of May 2019. At the same time, the near horizon shows signs of more applications, for home purchase-money. And, the downtrend in rates has sparked a current boost in refinance activity.
Some pundits predict another mortgage rate decline fairly soon. And, they speculate on the order of 8-10 basis points. That is, for the 30-year FRM. Although, unlike the pundits, people don’t want to speculate much, when it comes to buying or selling a home. And, when it comes to making key decisions about real estate, they ought to rely on a local expert for market analysis. In San Mateo County real estate, they ought to rely on one of America’s Best Real Estate Professionals. In fact, if you have a real estate matter in the County, why not rely on Carmen Miranda? Why not give her a call today?