The Cascade Team Real Estate Blog

Weekly Review
Newsletter - 12/19/2022

Week of December 12, 2022 in Review

Consumer inflation continues to cool, while there were some important takeaways from the Fed’s latest rate hike decision. Read on for these crucial details:

  • What the Fed’s Latest Rate Hike Really Signals
  • Consumer Inflation Cooler Than Expected Last Month
  • Small Business Owners Say Inflation Remains Top Problem
  • Shipping Data Brings Positive Sign for Inflation Picture
  • Continuing Jobless Claims at Highest Level Since February

What the Fed’s Latest Rate Hike Really Signals

As expected, the Fed hiked its benchmark Fed Funds Rate by 50 basis points at its meeting last Wednesday. The Fed Funds Rate is the interest rate for overnight borrowing for banks, and

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If inflation

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If

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Weekly Review
Newsletter - 12/12/2022

Week of December 5, 2022 in Review

Reports on home prices, inflation and unemployment highlighted a relatively quiet economic calendar, while recession signals continue flashing. Read on for these crucial stories:

  • Wholesale Inflation Hotter Than Anticipated
  • Are Home Prices Still Forecasted to Appreciate?
  • Continuing Jobless Claims Reach a 10-Month High
  • More Recession Signals Flashing

Wholesale Inflation Hotter Than Anticipated

The Producer Price Index (PPI), which measures inflation on the wholesale level, rose by a higher than expected 0.3% in November. On a year-over-year basis, PPI decreased from an upwardly revised 8.1% to 7.4%. While this was also a little higher than expected, 0.7%

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Check out this video for our new listing in Surprise AZ!

 

For all the details, contact Doug Young at 623.210.0902 or visit property website at: https://6496632.thecascadeteam.com/

14505 W Winding Trail - Surprise, AZ 85374

Move in ready home in the active adult gated community of Sun Village. The home features a split 2 bed 2 bath floor plan with open kitchen, skylights, stainless appliances, and great room concept with vaulted ceilings. Primary bedroom has large bathroom with tile floors, walk-in shower and walk-in closet. Second bedroom up front has vaulted ceiling with large three panel closet, and bathroom with soaking tub/shower combo. Outside you'll find a covered patio, low maintenance backyard and 2 car garage with built in storage

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Mortgage rates are continuing their downward trend as investors keep a lookout for more signs of cooling inflation.

“This week, labor cost data provided a ray of hope as it showed that hourly compensation was lower than previously reported in the second and third quarters for all sectors except manufacturing,” writes Danielle Hale, chief economist at Realtor.com, adding that gas prices are also plunging.

Nadia Evangelou, NAR senior economist and director of real estate research, commented: 

“Mortgage rates continue to move down. According to Freddie Mac, the rate on a 30-year fixed mortgage dropped to 6.33% from 6.59% the previous week. Housing affordability rose about 8% in the last four weeks as mortgage rates moved closer to 6%. If

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Newly Listed Home In Buckeye

Check out this new listing by Doug Young, located in Watson Estates in Buckeye. Check out the property website for more information at: https://6494336.thecascadeteam.com/ or contact Doug at 623.210.0902.

Move in ready, single story home, located in Watson Estates. This home features a split floorplan with three bedrooms, den and two full bathrooms. Entering this home, you have the two good sized bedrooms, and the guest bathroom on your left. Down the hallway is a den/office on your right. The extra large master bedroom has lots of natural light, along with an en-suite featuring separate shower, tub and a walk-in closet. The kitchen has a breakfast bar, lots of cabinet and counter space, and a pantry. The open concept

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Newly Listed Home In Buckeye

Check out this new listing by Doug Young and Michael Gabriel, located in Watson Estates in Buckeye. Check out the property website for more information at: https://6494336.thecascadeteam.com/

Move in ready, single story home, located in Watson Estates, close to the I-10. This home features a split floor plan with three bedrooms, den and two full bathrooms. Entering this home, you have the two nice sized bedrooms, and the guest bathroom on your left. Down the hallway is a good size den/office on your right. The extra large master bedroom has lots of natural light, along with an en-suite featuring separate shower, tub and a walk-in closet. The kitchen has a breakfast bar, lots of cabinet and counter space, and a pantry.

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Mortgage rates continued their plunge from a peak of 7.08% in November, marking their biggest three-week drop in 14 years.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes,” says Freddie Mac chief economist Sam Khater.

Mortgage rates this week

30-year fixed-rate mortgages

The average 30-year fixed-rate mortgage dropped to 6.49%, down from 6.58% the week prior, Freddie Mac reported Thursday. A year ago, the 30-year rate averaged 3.11%.

Mortgage rates began to slide below 7% after the most recent inflation data was released in mid-November. The consumer price index was at 7.7%, coming in below economist's expectations.

“Data shows that mortgage rates

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