Market Updates, Trends, and Tastings
Let’s Look at Houston! 👀
Business first - It's been 88 days since the average 30yr fixed mortgage rate was as low as it is today. Some lenders may be higher or lower than they were yesterday depending on whether or not they changed rates Monday afternoon as mortgage lenders prefer to set rates once per day, but can "reprice" if the underlying bond market moves enough in one direction or the other. Bonds improved enough Monday afternoon for many lenders to offer slightly lower rates. Those lenders were a hair higher yesterday, generally.
In terms of the underlying bond market, things are just a bit better right now compared to Monday morning and just a bit worse compared to Monday afternoon. That deterioration mainly followed yesterday morning's job openings data which showed another increase from the longer-term lows seen 2 months ago. Rates typically move higher if job openings are higher than expected, all else equal.
But yesterday’s data-driven volatility is nothing compared to what could be seen on Thursday morning following the big jobs report (officially, the "Employment Situation" which offers a count of jobs created in June as well as an update to the unemployment rate).
30 year fixed = 6.67% 15 year fixed = 5.91%
Houston Happenings this week - July 2 thru August 10 Children’s Museum of Houston, 1500 Binz Street 77004, (713) 502-7685 Learn more Get ready to dance, dazzle, and party like it’s our birthday… every single week! Dust off your party hats, put on your dancing shoes, and cue the Electric Slide — because Children’s Museum Houston is celebrating 45 Years of Play with a summer-long bash that’s bringing the house down (in the best way possible)! This summer, we’re not just cutting the birthday cake—we’re cutting a rug! The Museum is turning up the volume with our new summer theme: “Party All Summer Long!” Now through Aug. 10, every week is a birthday week, and you’re invited to the nonstop celebration. Expect high-energy fun, jaw-dropping activities, and exhibits that will have you dancing through decades of imagination and discovery.
4th of July. Freedom Over Texas at Eleanor Tinsley Park, 500 Allen Parkway 77002. (832) 393-0868 Learn more Houston’s official Fourth of July celebration featuring live music, family activities and a stunning fireworks extravaganza. Jam out with headliner Lee Brice and guest artist Ashley McBryde! Enjoy fireworks, festivities, and food at Freedom Over Texas!
July 7th & 8th. Houston Astros vs. Cleveland Guardians at Daikin Park, 501 Crawford Street 77002. Learn more ⚾️⚾️⚾️⚾️⚾️⚾️⚾️⚾️
July Home Maintenance - The rule of thumb for keeping your home updated is undergoing renovations every ten years at the minimum. Instead of full-scale renovations, many homeowners are prioritizing targeted interior upgrades that are personal, practical, and, yes, valuable in the long-term. And many are seeking professional help—interior design services are gaining traction.
Interior painting is a tried-and-true, budget friendly option, but wallpaper installation is steadily increasing in popularity. It’s the era of the accent wall— recent studies show 41% of wallpaper projects focus on just one wall. But updating walls isn’t the only way to revamp a space. Lighting installations are also trending with a majority of projects are aiming to replace old fixtures for better ambiance and functionality. Large-scale art installations are also on the rise, with homeowners choosing bigger and heavier pieces.
Tile is also breaking barriers this season—no longer relegated to the bathroom or kitchen, tile is a great way to bring texture to any room. Broadly speaking, flooring installations are also popular, especially in high-traffic areas like the entryway or kitchen. Speaking of functionality, accessibility modifications, like grab bars, stair lifts, and ramps, have also surged 94%.
Trends in Decorating - If you want your kitchen to look and feel like a million bucks—and who wouldn't — it's time to let go of a few design elements. Because like every other room in the house, kitchen trends come and go. These are the things you need to say goodbye to that unintentionally make your kitchen look cheap.
There’s no arguing against a cohesive design but matching everything can look uninspired and basic. Rather than a perfectly matching dining set or singular color (hello, solid white), layering textures, materials, and finishes make your space look more intentional and designer influenced.
Flat-faced or smooth kitchen cabinetry can look sleek, but it lacks depth. Traditional cabinets with details along the edges add more character to your kitchen. If replacing all your cabinets isn’t in the budget, try swapping out the hardware or giving them a good paint to refresh them.
Wallpaper is everywhere right now, but your kitchen might not be the best place for it to age well. For a unique backsplash, we recommend sticking with tiles or a vibrant paint. If you’re set on wallpaper, make sure you choose a durable, washable option.
Tiles are a great way to add texture and dimension to your kitchen backsplash. That said, bright white subway tiles are on the outs. This style has become so commonplace that many developers now use it in their large-scale designs, making it look outdated and cookie-cutter.
From faucets to cabinetry hardware, matte black was all the rage for years. Nowadays, it’s more passé than cool. To stay on-trend, swap out your kitchen hardware for good-quality chrome or ceramic pieces.
Foodie Fun Facts - Let’s talk about the new restaurant, Soluna, in Heights House Hotel, 100 W. Cavalcade Street, 77009. 281-928-6022. Learn more Serving a mix of Latin-inspired food and drinks, with influences from Cuba, Texas (of course), Mexico, and California. Soluna is a neighborhood bar and kitchen made for The Heights—open in the morning for coffee and breakfast tacos, and running late with great hamburgers, the best fried Yukon gold potatoes and other delicious choices! It’s also a nice option for takeout.
Recipe - Expecting a crowd for the 4th of July weekend? Get out your Blackstone griddle and you’ll be serving this delicious meal in minutes. It’s loaded up with cheesy stuffed pasta mixed in with smoked sausage, veggies, and mozzarella cheese. This is a meal you’ll make again and again.🇺🇸
Feature Listings of the Week:
New Construction - 702 E. 19th Street 77008 (The Heights) $3,049,000.00 Learn more 5 Bedrooms 5 Full Baths 1 Half Bath 5,915 Sq Ft 12,200 Sq Ft Lot
New on the Market - 2207 Dunraven Lane 77019 (Glendower Court) $1,099,000.00 Learn more 3 Bedrooms 3 Full Baths 1 Half Bath 3,159 Sq Ft 2,875 Sq Ft Lot
Great Remodel - 3749 Wakeforest Street 77098 (Madison Place) $459,000.00 Learn more 3-4 Bedrooms 3 Full Baths 2,096 SqFt 1,644 Sq Ft Lot
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