The latest data of the week ending on April 5 showed that buyers feel the pressure. In twin cities, buyers signed 1,043 purchase agreements, almost 20% more than last year at that time, according to St. Paul Area Association of Realtors. The sellers, on the other hand, listed 1,534 properties, around 200 more than the previous week and 8% more than the previous year.
“My buyers share most of the same uncertainty that we all feel,” said Jennifer Livingston, president of St. Paul Area Association of Realtors, in a press release. “But motivated buyers are committed and advance with confidence. And although they appreciate a slower and less frequency market, they must always be ready to act when they find the right house.”
Raverty said that even if the rates were the most unstable he saw during his 30th anniversary in the company, it was a “volatile platform market”. This means that if the rates bounce on a daily basis, they remained quite stable from week to week.
“Even with volatility on the markets, we still have many people who actively seek to buy,” said Raverty.
As a general rule, during the period of economic uncertainty and lowering of the stock market, the prices of bonds increase and the yields fall while investors seek the refuge of American treasury bills. Normally, mortgage rates increase and decrease with yields on treasury bills to 10 years.
But after the pricing announcements of April 2, a sale of bonds followed, lowering the prices of bonds and training increases. This has erased the drop in previous rates.
