Signaling a possible slowdown in the economy, retail sales dropped 0.2% in February. Slower economic activity is likely to keep the Fed’s from raising rates.

Mortgage Rates bounced up off the recent 12 month lows this week, looking for signs of stabilizing next week.

Talks with China and the US for a new trade deal continue to progress. When the deal is completed, it could help push stocks higher, which may pressure mortgage rates higher.

New home sales rose to an 11 month high in February, suggesting lower mortgage rates were providing further lift to the housing market. Construction spending also hit 9 month high in February, increasing for the 3rd straight month. The strong gains are in good sign for the housing market.

King county housing market as a whole has taken a significant jump in the last 45 days and has buyers competing to present a strong offer. The lender and pre-approval are in many cases the key to the offer being accepted. Ask today how we are getting our clients into contract when multiple offer are in competition. It’s not always the price that wins. 206-601-3426 Keith Akada

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