Timothy Moore

Existing home sales were slightly lower than expected in March, sliding 2.4% month-over-month. In more hopeful news for buyers, the median existing-home sales price dropped 0.9% from the year before and home inventory climbed 1%.

Amazing St Patrick's day courtesy of Tricia Turner team

The consumer price index fell 0.1% month-over-month in December, marking the sixth straight month of cooling inflation. Annual inflation fell from 7.1% to 6.5%, in line with economists’ expectations. Core inflation, stripping out food and energy, also met expectations at 0.3% month-over-month and 5.7% annually.

Last week, mortgage rates trended downward after lower-than-expected numbers in December’s employment situation reports. What can you expect from market-moving reports this week? Read here: http://spr.ly/61803rAsa

When selling a home, why should you work with a real estate agent? Read here: http://spr.ly/61883uddr

After rates trended higher during the holiday season, what can you expect from the market this week? Read here: http://spr.ly/61883PPfY

3 resolutions for 2023: https://www.cmghomeloans.com/mysite/tim-moore/blog3-credit-card-resolutions-for-next-year-2021-12-22

As home prices continue to cool, is it more affordable to rent a home or buy? Read here: http://spr.ly/618033knm

Pending home sales dipped in November, down 4.0% month-over-month—a slight improvement from the 4.6% monthly drop reported in October. As mortgage rates trend downward, experts predict home buying activity should rebound in coming months.

Before the year comes to a close, what financial tasks do you need to complete? Read here: http://spr.ly/61833KpmJ

Existing home sales were at a seasonally adjusted annual rate of 4.09 million in November, a 7.7% decline from the month before. The rapid rise in rates during October and the continued inventory decline were the two main factors. As rates have been trending lower for five straight weeks, activity will likely pick back up soon.

Housing starts and building permits each saw monthly declines in November, down 0.5% and 11.2%, respectively. Despite the decreases, the recent rise in purchase mortgage applications tells us that people are still buying homes.

Mortgage rates brushed upon 3-month lows last week after the consumer price index reported cooler-than-expected inflation levels in November. Read more: http://spr.ly/61843JGC6

In December, the National Association of Home Builders’ housing market index dipped 2 points to a level of 31. On the other hand, the component of the index that measures sales expectations over the next six months jumped by 4 points—an increase not seen since 2020.

6 things that go into making an offer on a home: https://www.cmghomeloans.com/mysite/tim-moore/blog6-main-things-that-go-into-making-an-offer-on-a-home-2022-12-14

What factors go into making an offer on a home? Here’s what you need to know: http://spr.ly/61843GSeY

After yesterday’s cooler-than-expected inflation report, the Federal Open Market Committee announced a 0.5% increase to the benchmark interest rate. After four consecutive 75-basis point rate hikes, cooling inflation levels led the Fed to scale back on its increases.

In November, the consumer price rose just 0.1% month-over-month, a smaller increase than the expected 0.3% rise. Annual inflation came in below expectations as well, reporting a 7.1% annual increase vs. the expected level of 7.3%.

This week, the market is eagerly awaiting data from the consumer price index scheduled for release tomorrow morning. Here’s what you can expect: http://spr.ly/618831jYG

Though peak home buying season is in the spring, these five points prove that winter is the best time to buy: http://spr.ly/618638C0y

Consumer credit rose in October, up to a seasonally adjusted annual rate of 6.9%. Revolving credit soared 10.4% year-over-year while nonrevolving credit increased at an annual rate of 5.8%. Though higher than September’s readings, total consumer credit was lower than expected.

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Timothy Moore

Last week, average mortgage rates saw a large downward shift following Fed Chair Powell’s comments surrounding the federal funds outlook. Read more: http://spr.ly/61863Bse2

Congratulations to the Sabido family! Thank you for for allowing me to assist you with your home purchase!