MARKET UPDATE

RATES INCREASE (JUST A LITTLE)

As March begins, we’re losing an hour to daylight saving time — but don't worry, there are still plenty of hours to capitalize on the current Portland housing market. Concerns about a potential recession or stagflation are causing market uncertainty, with traders more focused on what to sell than what to buy. The latest job cuts report showed 172k job losses in February, and the trade deficit widened sharply. Despite these challenges, there are signs of resilience in the economy.

This afternoon, the average lender is offering top-tier conventional 30-year fixed rates near 6.78% with no points (source: Mortgage News Daily).

What This Means for Portland Buyers and Sellers:

• Mortgage rates have increased slightly, but there are still opportunities to lock in a favorable rate for buyers.
• Economic uncertainty could lead to more volatility in rates, so staying flexible with plans is important.

As always, feel free to share this and let me know if you need anything— I’m only an email, call, or text away :)