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| Dawn Green Sells Denver |
303-503-2650 | dawngreensellsdenver.com |
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This Week's Topic
The Fed Just Raised Rates for the First Time Since 2023
And it's already reshaping what buyers can afford and how sellers should price. Here's what actually happened, and what it means for you.
The Fed made its first rate move in three years this week, and it rippled straight into mortgages, new construction, and our own backyard here in the south metro. In plain English, no jargon, here's what matters.
— Dawn
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National
The Big Picture
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The Fed raised rates for the first time since 2023.
On September 16, the Federal Reserve raised its benchmark rate a quarter point, to a range of 3.75% to 4.00%. It's the first increase in over three years, driven by inflation running hotter than the Fed wants.
Why it matters to you: The Fed doesn't set mortgage rates directly, but the two move together. Within two days, the average 30-year fixed mortgage rate climbed back above 7%.
Source: Federal Reserve
Mortgage rates: back above 7%.
The 30-year fixed averaged 7.05% on September 18 and 7.04% on September 20, both notably higher than earlier in the month.
Why it matters to you: If you were pre-approved a few weeks ago, it's worth checking with your lender to confirm your numbers still hold. Sellers, buyers are recalculating their budgets right now too.
Source: Yahoo Finance
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Denver Metro
Your Denver Metro Market
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Condos and houses are telling two different stories right now.
Denver's detached, single-family homes are holding up well, with inventory actually down year over year and homes averaging just 24 days on market. Condos and townhomes are a different picture, with nearly 7 months of inventory and 45 days on market. Rising insurance costs on condo buildings, up 20 to 40% in some cases, are pushing HOA fees higher and squeezing what buyers can qualify for.
Why it matters to you: If you own a condo and are thinking about selling, pricing and timeline expectations matter more right now than they did a year ago. If you're a single-family homeowner, you're likely in a stronger position than you might realize.
Source: Hoodline
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South Metro & Colorado
South Metro & Colorado Watch
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Nearly 4,900 new homes are coming to Aurora.
A 960-acre development called Tributary is moving forward south of Denver International Airport, bringing up to 4,859 homes plus parks, a school, and retail, built out over the next two to three decades.
Why it matters to you: A long-term story, but a meaningful sign of where future growth and inventory are headed in our area.
Source: Hoodline
Aurora Water is proposing 2027 rate increases.
Residential water bills could rise 3.5%, with sewer and stormwater charges up 6.5%, tied to a $2.2 billion five-year capital plan.
Why it matters to you: A small but real line item to budget for if you own property in Aurora.
Source: Hoodline
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One more thing
Have a question about what any of this means for your specific situation? That's exactly what I'm here for. Call or text me at 303-503-2650, no pressure, just a conversation.
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Dawn Green
REALTOR® | Real Broker, LLC DBA Real
Colorado License FA.100066314
303-503-2650 | DawnGreenRealtor@gmail.com | dawngreensellsdenver.com
Instagram @dawngreensellsdenver | TikTok @dawngreen68
Market data current as of publish date. Sourced from the Federal Reserve, Yahoo Finance, and Hoodline as linked above. For informational purposes only, not legal, tax, or lending advice.
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