Weekly Market Report

Hello Friends,

I hope you're having a wonderful week and enjoying what I hope will be your best summer ever! With the FIFA World Cup Final taking place tomorrow, I'm looking forward to an exciting match and hope your favorite team brings home the trophy.

Here's this week's housing and mortgage market update and what it means for buyers, sellers, and homeowners.

Mortgage Rates Show Signs of Improvement

Mortgage rates pulled back from recent highs after encouraging inflation reports and reassuring comments from Federal Reserve Chairman Kevin Warsh. The bond market responded positively, helping improve mortgage pricing.

While rates remain above the historic lows of recent years, this week's movement is a welcome step in the right direction.

Current Mortgage Rates

• 30-Year Fixed: 6.63%

• 15-Year Fixed: 6.16%

• 30-Year Jumbo: 6.83%

• FHA: 6.25%

• VA: 6.26%

Inflation Continues to Cool

Both the Consumer Price Index (CPI) and Producer Price Index (PPI) showed encouraging signs that inflation is easing. Lower inflation helps reduce pressure on long-term interest rates and supports lower mortgage rates over time.

One month doesn't establish a trend, but this week's reports were certainly encouraging.

Oil Prices Still Worth Watching

The biggest risk remains energy prices. Rising tensions in the Middle East briefly pushed oil prices higher, reminding us how quickly fuel costs can affect inflation and interest rates.

If energy prices stabilize, the outlook for mortgage rates should continue to improve.

Housing Market Update

The market continues shifting toward a healthier balance.

🏡 More Inventory
Buyers have more homes to choose from, creating better negotiating opportunities.

💰 Price Growth is Slowing
Home values remain strong, but appreciation has become more moderate. Proper pricing is becoming increasingly important for sellers.

🤝 Buyer Incentives Are Back
Seller-paid closing costs, concessions, and mortgage rate buydowns are becoming more common, making homeownership more affordable.

Economic Outlook

The economy continues to show resilience.

✔ Employment remains healthy.

✔ Inflation is moving in the right direction.

✔ Financial markets continue responding to inflation reports, Treasury yields, Federal Reserve policy, and global events.

These factors will continue influencing mortgage rates throughout the second half of the year.

Opportunities for Buyers and Sellers

Today's market offers opportunities for both buyers and sellers.

• More homes available.

• Increased negotiating power for buyers.

• More seller concessions.

• Creative financing options.

• Strong equity opportunities for homeowners.

One of my favorite reminders is this:

You can refinance your interest rate later—but you can't refinance the price you paid for your home.

My Take

This week brought encouraging news. Inflation appears to be cooling, mortgage rates have improved from recent highs, and housing inventory continues to grow. While uncertainty always exists, today's market offers more opportunities than we've seen in quite some time.

Whether you're buying your first home, moving up, downsizing, investing, or simply exploring your options, having the right strategy makes all the difference.

Thank you for your continued trust, support, and referrals. Your confidence means everything to me, and I truly appreciate the opportunity to help you, your family, friends, and clients with their real estate goals.

If you'd like to discuss today's market, your home's value, financing options, or any real estate questions, please don't hesitate to reach out. I'm always happy to help.

For FREE MLS home searches, Instant Home Value reports, Long Beach and surrounding area market statistics, neighborhood insights, and my latest market updates, I invite you to visit my website. You'll find valuable tools and resources designed to help you make informed real estate decisions.

Have a fantastic weekend, enjoy the FIFA World Cup Final, and I'll see you again next week!

Warm regards,

Amir Zee