Blog > Feds Dropped Rates Again
Feds Dropped Rates Again
As we head into the holiday season, the housing market has remained relatively quiet, with mortgage rates holding steady. The Federal Reserve recently reduced interest rates for the third time this year, but its impact on the housing market has been minimal. Despite a sharp decline in the stock market following the rate cut, mortgage rates have stayed stable. Currently, the average 30-year fixed mortgage rate is 6.72%, exactly where it was last year and nearly the same as 30 days ago.
December has been a slow month for real estate, with home prices slightly lower than last month. However, it’s not unusual for prices to rise as the month progresses. The market has been stagnant, which is typical during the holiday season, especially after a brief spike in activity post-election.
Looking ahead, I expect demand to pick up after the New Year as many buyers and sellers take a break during the holidays. Once the festivities are over, the market should see more activity.
In the meantime, I want to wish everyone a Merry Christmas and a wonderful holiday season. I look forward to sharing more updates in the new year!
December has been a slow month for real estate, with home prices slightly lower than last month. However, it’s not unusual for prices to rise as the month progresses. The market has been stagnant, which is typical during the holiday season, especially after a brief spike in activity post-election.
Looking ahead, I expect demand to pick up after the New Year as many buyers and sellers take a break during the holidays. Once the festivities are over, the market should see more activity.
In the meantime, I want to wish everyone a Merry Christmas and a wonderful holiday season. I look forward to sharing more updates in the new year!
