An interesting nugget from the National Association of Realtors trends report:

Over 50% of home purchases are coming from buyers age 46 and up.

Most of the marketing world is out here chasing first-time buyers like it’s a Black Friday doorbuster… when the real action is happening with the “I’ve been through a few rate cycles and survived” crowd.

Makes sense though, this group typically has more equity, more savings, and a better feel for timing the market. They’re not just buying homes, they’re making strategic moves.

Moral of the story: don’t sleep on the seasoned buyers… they’ve got the experience and the down payment.

Oil prices continue to inch higher, keeping some pressure on inflation expectations. Jobless Claims and Continuing Claims both ticked up slightly, giving the bond market a reason to react, but the response has been fairly muted.

Translation for rates: a bit of push and pull. Higher oil leans rates up, softer labor data leans them down, and for now they’re mostly offsetting each other.

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