Before I started on today’s topic, I wanted to ask for a favor. If there is anything you would like me to discuss in a future video, please email us or better yet, comment on this post. We really appreciate and remain true to providing you with the best information.
We’ve been receiving many questions about the recently-realized price increases. However, they have tapered off in the past few weeks and remain unchanged. Currently, the median list price is sitting at $325,000 and the Market Action Index shows that we are still in a seller’s market. However it does suggest that we are creeping down to a more neutral market. Also, Portland’s average days on market is sitting at 131.
In mortgage news, last week’s job report was better than expected. However, mortgage bonds still remain unchanged. This is a pretty boring week in finance as we all wait to see what the Fed’s next move will be after their meeting on March 18th. They are expected to keep short-term rates at the same levels.
Mortgage rates are hovering at about 4.5% which makes it increasingly important to consult a mortgage advisor. Rates have the tendency to change multiple times over the course of a day and also every circumstance might not meet your individual goals. We thank Shelby Spencer over at Guild Mortgage, who is our preferred lender, for this information!
If this information interested you and you would like a report that is tailored to your specific situation, don’t hesitate to contact us. If you are also interested in buying or selling, ask us about our 59 day guarantee! Thanks and I look forward to reading your comments.