It's officially Summer 2021! There is something about summertime that brings out the best in us. You might be resuming postponed plans from last summer or planning new activities, while still, of course, following local CDC guidelines. If you need some ideas on what to do this summer, give some of these a try. And the best part? All of these activities are free!

• Go for a hike

• Plan a creative picnic

• Camp in your backyard

• Attend a Local Parade

• Grow an Herb Garden

Let me know what fun summer plans you have in store this year! 

Rates Trend Higher, Existing Home Sales and New Homes Sales Coming Up this Week

Last week, the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate near zero. The move caused some market volatility, likely due to the FOMC’s discussion of tapering and rising rates. With the economy’s current pace of recovery and inflation, the FOMC predicted that we will see at least two interest rate hikes in 2023. Before last week’s meeting, the rate liftoff was set for 2024. As for their bond-buying program, they still plan to keep purchasing assets at the current pace until the labor market and inflation show substantial and sustained progress. But they did mention the idea of tapering, which is likely what sparked the movement in the 10-year Treasury yield and mortgage rates. Mortgage rates could see more movement this week after the release of the existing home sales report and new home sales on Tuesday and Wednesday, respectively.

Existing home sales or resales track the sales of previously constructed homes and make up approximately 90% of residential real estate transactions. In April, existing home sales dropped 2.7% month-over-month to a seasonally adjusted annualized rate of 5.85 million units. As home buyer demand continues to soar, the housing market continues to face the challenge of meeting this demand with limited home inventory. However, when asked about the current state of the housing market, Lawrence Yun, chief economist for the National Association of REALTORS^® (NAR) said, “it is hot, that is the one-word description even with the sales decline. For every listing there are 5.1 offers. Half of the homes are being sold above list price.” The upcoming report on existing home sales should provide more insight.

The new home sales report tracks the sales of newly constructed homes and accounts for about 10% of total residential real estate transactions. New home sales fell 5.9% in April, down to a seasonally adjusted annualized rate of 863,000. Due to the shortage of labor, lumber, and other home building supplies, as well as increased material prices, construction has been slower over the past few months. Last week, the Commerce Department released a report that showed a 3.7% month-over-month increase in housing starts during May. Therefore, the level of new home sales may also rise soon.

Other important reports scheduled for release include the weekly mortgage application survey on Wednesday, the weekly jobless claims survey on Thursday, and the GDP update on Thursday afternoon. On Friday morning, personal income, consumer spending, and core inflation will also be released.

With the Fed’s discussion of tapering asset purchases and raising rates, it’s likely that mortgage rates could start rising again soon. For right now, they’re still in a historically low range – making it a perfect time invest in a home or lower your rate through a refinance. There are several ways you can take advantage of interest rates while they are still low, so if you would like to explore your options, let me know. [More Information]

Advice for Moving with Pets

Moving from one end of town to another, or across the country, can be as challenging for your pets as for the rest of the family. Preparation and patience can help your dog, rabbit, bird, or cat adjust more quickly to its new home.

Tell your veterinarian. Your pet’s medical records and microchip data can easily be updated with your new address, but if you’re moving out of the area, ask your vet to forward this information to your new veterinarian.

Manage stress. Think about your pet’s stress levels as well as your own, as it can be alarmed by changes in routine. A squawking parrot, nosy cat or clingy puppy can lead to frayed nerves and possible accidents if they’re underfoot. The best solution is to board your pet for moving day. 

Include pets on outings to the new home. Include pets on outings to the new home. Before the move-in, you can visit your new home for the bank appraisal, home inspection, and final walkthrough. Take your dog along, if it’s well behaved, and let the pet have a nice sniff around the property. Take his water bowl and set it in its future planned location and let your pet have a refreshing drink. Doing so will help accustom the pet to the new home a little more quickly.

Take time to play. Remember to cuddle, play, and talk to the pet as usual. Let the cat jump in empty boxes, toss the ball for your dog, and bring your bird to a perch in the room you’re packing.

Fun for the Full Family on Independence Day

While celebrating America's Independence, the 4th of July is a fun time to celebrate with friends and family. Whether you’re hanging out at a lake, a beach, or your friend’s backyard, you will want a few games and activities up your sleeve to enjoy during the day! Here are a few activities other than fireworks to enjoy during the day:

• Set up a Slip n' Slide
• Watermelon Eating Contest
• Giant Jenga

• Tie-dye Patriotic Shirts

No matter how you spend Independence Day, I hope you and your family have a fun and safe holiday!