Here is our interest rate Forecast for the next year. Our Chief Economist, Matthew Gardner, predicts that rates for a 30-year fixed mortgage will stay between 3.8% and 3.9% for 2020. He doesn’t see rates going above 4.0% until at least the first quarter of 2021. This is obviously great news for buyers as their...
Millennials often get a bad rap. One of the myths about Millennials is that they don’t own homes and will be renters forever. Not true! Especially on the Front Range of Colorado. Based on research by our very own Chief Economist, Matthew Gardner, Millennials make up a significant percentage of all home buyers...
Some fascinating research from the Denver Metro Association of Realtors… 37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period. Property owners who have to reduce their price take an average of 58 days to receive an offer. Those who...
The average 30-year rate is now 4.06% which is the lowest it has been all year. Rates today are actually the lowest they have been since early 2018. The main factor driving rates down is the trade war with China. Investors are shifting money from stocks into bonds which causes the yield on the 10-year...
Positive news for buyers! Inventory is up in Metro Denver which means more selection and (a little) less competition. Here are the numbers… The number of new properties that hit the market in the last 30 days is up 8% compared to last year. This new inventory was evenly spread between single family properties and...
