Values Hold on in Portland Metro Real Estate, but the BIG Story is in Mortgage Rates!

  • The Average Sale Price was Up by a slight 0.3% vs last year's number.  It's not a lot, but that's coming off of some larger positive numbers in 5 of the last 6 weeks.  

  • The numbers for:  new purchase agreements; homes being listed for sale; overall sales volume; and price reductions were down across the board due to the Thanksgiving holiday.  Expect those numbers to rally next week.  

  • Mortgage Rates Dropped to 6.625% for the 30-year fixed on Thursday after a 3-day slide in the yield on the 10-year treasury (one of our best indicators of where mortgage rates are headed).  After stalling on Thursday, the 10-year started falling again on Friday - indicating that we should expect mortgage rates to follow suit.    

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