Weekly Market Observations - July 25,2023

Here’s Our Weekly Market Observations :

Recession predictions now 50% or less according to business economist survey

June home resales drop 18.9% YOY, a 14 year low

Median home resale prices increased to $410k in June, the 2nd highest price on record since 1999

The Fed is encouraging banks to work with borrowers on distressed CRE loans

Average 30-year fixed mortgage rates down slightly to 6.78%