Mortgage Market Update - "Griswald-Style" - Embrace the Unexpected (Nov 25 - Dec 1, 2024)

As Clark Griswald teaches us in the most important Christmas documentary of the 20th?Century,?National Lampoon's Christmas Vacation?(top 5 Christmas movie), "The most enduring traditions of the season are best enjoyed in the warm embrace of kith and kin. Thith tree is a thymbol of the thpirit of the Griswold family Chrithmath."? He also teaches us that the unexpected turns are really the best parts of life. I show how this market continues to turn and how our best laid plans may still have to wait (until the surprises come our way).?

Enjoy this week's Mortgage Market Update to understand the #realestate, #mortgage, and #economic trends that are #moving #markets this week.? Plus, a reminder from our family's favorite #NationalLampoon #Griswald Family-style surprises.?

• Mortgage Bankers Association (#MBA) reports that?a 12.43% increase in #purchase #mortgageapplication from the previous week, the highest levels of #applications since February 2024.?
• November finished with the lowest #rates in over a month.? Call it a pre-holiday #marketrally as #mortgagerates work to recover (slightly) from the nearly month-long increases (with #rates climbing .75% during that time) reaching with the 30-year conventional #mortgage reaching its since early July, according to Mortgage News Daily .
• #DOJ seemingly contradictory comments about buyer agreements being potentially problematic for competition puts #realtors and homebuyers in a difficult position as Judge approves National Association of REALTORS? settlement.??
• Zillow 2025 #housing market #forecast...Bumpy!? #Zillow projects a 2.6% appreciation of home values in 2025, which is largely on trend?with growth from 2024, but how we get there will likely once again be a volatile ride.?

When Evan was 3 he knocked over the fully decorated #christmastree while putting the star on top.?Nobody was hurt and nothing was broken, but it was really close to a Griswold's tree through the window moment. The next year Ryan, 7 at the time, found a new spin on our tree #decorating drama…when he got stuck IN the tree?while putting on the #christmaslights. He was sitting on the arm of the couch and leaning in to get the lights all the way in, when he slipped off the arm and got stuck head-first and waist deep.? I helped him out, after filming him wiggle and yell for help (content first, ha).? Still, a pictures are worth a thousand words, check out the video evidence of our Griswald-style mishaps for a laugh!

The best things in life do not go exactly as planned.? #Realestate experts and #economists had been promising #homebuyers that they would see relief in 2025, but that seems less certain.? If #homebuyers see any benefits, they will likely not be exactly as we hoped or forecasted. If you are ready to buy or plan for an eventual #refinance, let's set up our plans because the best things come when you least expect them.

This year's tree is a little crooked, but otherwise still standing...but you never know what the future holds.? I hope you fill your home with laughter this #holidayseason as you await your next unexpected giggle. (And, hopefully better family traditions than watching your kids knocking over and getting stuck in a #Christmastree.)

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