As of Friday, the average top-tier 30-year fixed mortgage rate reached its lowest level of 2024, with a further drop today making it the lowest since April 2023. This decline is due to a bond market rally driven by softer inflation data and the Fed's openness to rate cuts.

Rates are highly variable depending on the day, lender, and client scenario. For instance, a 6.625% rate might be low for some, while others could see 6.125% as the low rate.

Predicting future trends is challenging. While some expected multiple Fed rate cuts in 2024, opinions have shifted, with some suggesting emergency cuts today.

With the next Fed meeting in over five weeks and key economic data forthcoming, the future remains uncertain. However, rates are currently low and trending downward, though short-term corrections could occur.

In Mesa County

There are currently 541 active homes on the market in Mesa County. This is a slight increase compared to a week ago.

The average sold price YTD is $448,836 and the median sold price YTD is $399,999.

Mortgage Rates Today

Note: If you are receiving this unexpectedly it is because you have been placed on a limited distribution of friends and colleagues that I respect and believe will find this information useful