Mortgage rates have been trending slightly downward, but this could shift with key events later this week. The most significant factor is the Federal Reserve's announcement on Wednesday, where traders are expecting a rate cut of either 0.25% or 0.50%.

While the outcome is widely expected, the potential range still leaves room for rate volatility. The Fed is also expected to provide guidance on future cuts, which could impact the housing market in the coming years by making it easier for buyers to secure financing at lower rates.

This comes at a critical time as the market continues to flatten and inventories rise.

In Mesa County, active inventory has surpassed 600 for the first time since November 21, 2022.

In Mesa County

There are currently 606 active homes on the market in Mesa County. This is a 2% increase compared to a week ago.

The average sold price YTD is $452,243 and the median sold price YTD is $399,900.

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