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March market report

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%

Robin Walton

Verdes Lifestyle Team HomeSmart Lifestyles 12625 N Saguaro Blvd. #116 Fountain Hills, AZ 85268

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