And, what has been happening to interest rates?
We've mentioned how the real estate market appears to be slowing ... but, what has happened to interest rates? Are interest rates a factor in the current market?
Freddie Mac recently reported that actually interest rates declined slightly this week over last week ... "30-year mortgage rates fell to 5.74 percent following a rise to 5.82 percent last week". The high so far this year was 6.34 for the week of May 12, it is reported.
Freddie Mac's chief economist predicts interest rates no great movement in interest rates for the next few months.
So, it would appear that interest rates are not a major factor in the slowing of our real estate market. In fact, with interest rates so favorable, one would expect that buyers would still be anxious to get into the market. Again, perhaps the slowing market is a sign of buyer caution on where the real estate market is headed. Many buyers have expressed to us that they feel the market has peaked, and that prices may decline. That remains to be seen ...
To read the entire press release, go here.
Register to vote ONLINE!
If you will allow us a slight departure from real estate ... did you know you can register online to vote in California? The deadline to register to vote for an election is 15 days before each local and statewide election day. Yykes ... that looks like October 18 is the deadline for our November elections!
California's online voter registration website is here.