Hi there,

This week brought a bit of relief as interest rates averaged 6.22% — the third-best day this year and one of the strongest in the past three years. This improvement is likely in anticipation of the upcoming Fed meeting on Wednesday, the 29th.

FHA and VA borrowers are currently seeing rates in the high 5’s, which is great news. However, national mortgage applications are still down slightly week over week.

Locally, we’re noticing a pickup in activity. Last week, we had 15 showings across all of our listings — nearly three times more than in recent weeks. We’re also entering that time of year when many sellers take their homes off the market for the winter, which can tighten inventory and create an opportunity for active listings to stand out as top choices.

Of the listings we had go under contract last week, the accepted offers averaged 99.1% of the current asking price — though all three had made price reductions beforehand.

We look forward to continuing to market your property and finding the perfect buyer.