About Jon Iacono
Jon Iacono brings his 21+ years of experience in the industry to Advisors Mortgage Group. Jon was born in Brooklyn, NY but has lived the majority of his life in Monmouth County, NJ. As a graduate of Monmouth University with a concentration in Management and Computer Science, Jon brings his training and education to Advisors Mortgage to help grow and manage the recruiting team.
Jon worked alongside many mortgage and real estate industry professionals previously with Mortgage Intelligence companies such as, Mortgage Market Guide, Loan Tool Box, Certified, Scripts for Success, CMPS, MBS Highway, Turning Point CRM and more. Jon gives back to his community and has been an active volunteer firefighter for the Colts Neck 84 -1 station since 2004. He enjoys staying active by playing golf, lifting weights, boxing, training Jiu Jitsu and most importantly spending time with his two kids Lily and Jonny Jr.
Existing Home Sales and Oil’s Influence
March 16, 2026
U.S. existing home sales rose 1.7% in February to an annual rate of 4.09 million, beating expectations as lower mortgage rates and slower home-price growth helped bring buyers back into the market. The share of first-time buyers reached 34%, the highest in five years, showing improving affordability.
However, the housing market still faces challenges:
● Sales remain down 1.4% year-over-year.
● Housing inventory is still tight, with 1.29 million homes available—below pre-pandemic levels.
● The median home price rose slightly to $398,000.
● Limited supply, especially of starter homes, could push prices higher during the spring selling season.
Mortgage rates declined earlier in the year, helping affordability, but adding to the challenges, geopolitical tensions in the Middle East began to push Treasury yields and mortgage rates higher, slowing the recovery.
Also, oil prices have been super volatile, increasing in price from $65/barrel all the way up to close to $120/barrel. As oil continues to stay elevated this puts pressure on the bond market causing rates to increase quickly in the short term. When oil prices begin to normalize and decline, the bond market generally responds positively, and we should see interest rates decline once again.
Source : https://bit.ly/46SIfeu
