Mortgage Rates Just Did What?

If you’re watching mortgage rates as closely as I am, you saw them fluctuate nearly .75% in the month of May. At one point they even dropped below 7% for the first time in quite some time! While this may not seem like a lot, but consider the average home price in Portland ($591,200)… that’s a difference of $300 or more per month in payment.

As your personal resource for accurate local information, advice and perspective in the real estate space, the reality is, the market is still tough right now. And from what I can tell, it appears the cycle of rates making a short lived drop, and going back up again will continue.

Though market conditions could be more agreeable, there is no evidence of a crash either. I am still seeing opportunities, but you must be diligently watching and ready to act quickly.

So, If you do need to make a move, and can afford it, we should be talking now. If you’re in a great spot and need to wait, let’s also connect so I know to inform you of opportunities that meet your needs.