Some News About Our Market’s Interest Rates

 

Interest rates are moving in a downward direction and are showing no signs of changing for at least a year—but why? I’m joined by Tom Ross from Bay Equity to answer that.

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Today I’m alongside Tom Ross with Bay Equity Home Loans and, together, we’re here to discuss our current interest rate environment. 

By the end of this May, we saw a notable development with regard to interest rates: The combination of tariffs and various other economic conditions are driving rates down, and this downward trend doesn’t look like it’s going to slow or move in the other direction anytime soon.

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The combination of tariffs and various other economic conditions are driving rates down.

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Although market indicators tell us that rates will continue their current trajectory for the next year or so, it’s worth pointing out that, last year, we were confident that rates would continue to rise well into the high-5’s. It wasn't until the Fed announced a change of course in their policy decisions early this year that we knew we could see rates flatten out or begin to fall. 

All things considered, conditions are very favorable at this moment, and it’s a great time to get into the market.  

Whether you’re considering buying or refinancing, go ahead and give Tom a call at 602-791-5861. We’d love to help you as a team! And if you have any other questions regarding your real estate needs, please reach out to me as well. We hope to hear from you soon!

If You Plan on Buying a Home, the Time to Act Is Now

 

If you’re a homebuyer, the time to buy is now—here’s why.

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Are you waiting for the market to soften to buy a home?

A lot of buyers have this plan because they’re afraid that what happened during the last economic downturn will happen again soon. However, according to my guest today, Tom Ross of Bay Equity Home Loans, the last economic downturn was a once-in-a-century event, and the current market features a totally different set of circumstances. 

If you plan on staying in your home for at least three years, there are plenty of underlying reasons why now is a great time to buy.

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The last economic downturn was a once-in-a-century event, and the current market features a totally different set of circumstances.

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According to the statistics, Phoenix is the fastest-growing city in the U.S. Not only are we ranked in the top 10% of all cities in terms of job growth, but we’re also in the top 20% in terms of historical appreciation. 

We have about 70,000 households being formed annually, but only 25,000 homes being built. To be exact, we have less than three months of inventory, and we don’t see supply catching up to demand in the foreseeable future. Furthermore, appreciation is also expected to continue to rise. 

If you look at the big picture, it’s a great time to buy or sell, so if you plan on doing either anytime soon, don’t hesitate to reach out to me. I’d love to help you.