Monthly market titbits:
- February existing home sales fell linked to low supply, yet still up 9.1% from a year ago.
- With spring weather and vaccines going into arms we are hopeful that listings will start to climb as confidence to move grows.
- Q4 GDP has been revised up to 4.3% and economists are predicting GDP growth as high as 7% this year. After what we have been through, were else to go but up!
- New homes coming on the market are a trickle as builders face high costs and supply chain delays.
52-week average mortgage rates:
30 year fixed rate: High: 3.88% Low: 2.75%
15 year fixed rate: High: 3.9% Low: 2.25%
30 year Jumbo rate: High: 4.75% Low: 3.11%
5/1 ARM rate: High: 4.38% Low: 2.21%