MAY: SPRINGING FORWARD TO SUNNIER DAYS & MORE LOCAL FLAVOR!
What's Inside:
- Sharon’s Rate Rundown: Join us for a quick update on current mortgage rates, what’s changing in the market, and what it could mean for buyers and sellers heading into the season ahead. Sharon Walker with Bank of Star Valley will share insight on today’s lending environment, current trends, and what to watch for moving forward. More details coming soon.
- Local favorites right now: Busy Bees Banners creates custom hand-painted banners for special events, and 307 Dance Hall is hosting fun, beginner-friendly line dancing nights throughout May in Star Valley and Jackson.
THE MONTHLY RATE BREAKDOWN
Get Sharon's take on current Interest Rates and what they Mean for your real estate goals.
Mortgage rates are continuing to stabilize in the low-to-mid 6% range, with modest improvements compared to last month. Current averages are approximately 6.02% for a 30-year conventional loan, 5.54% for a 15-year conventional loan, 6.12% for FHA financing, and 6.00% for USDA loans. While rates still fluctuate from week to week, the market has remained noticeably more stable than the higher peaks experienced throughout 2024 and early 2025.
Over the past month, rates have generally moved slightly lower, decreasing roughly 10 to 25 basis points depending on the loan product. Even with ongoing economic uncertainty, buyers are beginning to adjust expectations and move forward with purchasing decisions rather than waiting indefinitely for a major rate drop.
What this means for buyers:
• Mortgage rates are expected to remain moderately volatile in the near term due to inflation trends, Federal Reserve policy decisions, and broader economic conditions.
• While rates could continue to move slightly up or down, experts are not currently forecasting a dramatic decrease in the immediate future.
• Buyers waiting for significantly lower rates may risk facing small increases instead, while also competing with more buyers if rates eventually decline further.
• Many buyers are choosing to focus on affordability today, with the option to refinance later if rates improve.
What this means for sellers:
• Buyers are still active in the market and are becoming more comfortable navigating current interest rates.
• Well-priced, well-marketed, and move-in-ready properties are continuing to generate interest and successfully close.
• Inventory levels and pricing strategy remain important, especially as buyers become more selective with monthly payment considerations.
• Sellers who position their homes competitively are still seeing strong activity despite ongoing rate conversations.
• Buyers are still active in the market and are becoming more comfortable navigating current interest rates.
• Well-priced, well-marketed, and move-in-ready properties are continuing to generate interest and successfully close.
• Inventory levels and pricing strategy remain important, especially as buyers become more selective with monthly payment considerations.
• Sellers who position their homes competitively are still seeing strong activity despite ongoing rate conversations.
Overall, the market continues to show signs of stabilization. While interest rates remain higher than the historic lows seen several years ago, today’s conditions are still improved compared to recent peaks, creating opportunities for both buyers and sellers who are prepared and informed.
LOCAL FLAVORS OF THE MONTH
Here are a few local spots I'm digging right now. If you know of a new or little-known spot that should be on my radar, please reply to me with the scoop!
For Events: Busy Bees Banners
Busy Bees Banners offers custom, hand painted banners for any occasion or special moment. Hand over creative freedom, or provide a detailed vision, and let her bring it to life to add a little extra magic to your special event.
One of my Favorites: 307 Dance Hall
One of my Favorites: 307 Dance Hall
Looking for something fun to do this spring? 307 Dance Hall is bringing weekly line dance lessons to Star Valley and Jackson throughout May.
Whether you have been dancing for years or have never stepped onto a dance floor, these nights are designed to be welcoming, upbeat, and beginner friendly. No partner or experience needed.
May Weekly Schedule:
• Mondays | Alpine Civic Center | 6:30–8:30 PM
• Wednesdays | Dad’s Bar & Steakhouse, Thayne | 7:30–8:30 PM
• Thursdays | Million Dollar Cowboy Bar, Jackson | 7:00–8:30 PM
• Mondays | Alpine Civic Center | 6:30–8:30 PM
• Wednesdays | Dad’s Bar & Steakhouse, Thayne | 7:30–8:30 PM
• Thursdays | Million Dollar Cowboy Bar, Jackson | 7:00–8:30 PM
It is a great way to meet people, learn something new, and enjoy a fun night out in the community.
Follow 307 Dance Hall to stay updated on upcoming events and classes throughout the summer.
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