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Weekly Market Observations - July 25,2023
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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%
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