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Lower mortgage rates are stabilizing the housing market

Housing Wire

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of us, we can say they have stabilized the market. Mortgage rates went from a low of 2.5%

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Comparing this housing market recession to 2008

Housing Wire

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. Housing permits and starts are falling now, even with the backlog of homes in the system. With less transaction volume , general incomes in the housing sector are falling.

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The standoff between homebuyers and sellers

Housing Wire

There’s a showdown at the housing market corral between homebuyers and sellers. When I came up with the “ savagely unhealthy housing market ” label in February of this year, it was based on the premise that the housing inflation story that we have had to deal with since 2020 was a historical event.

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The housing market is now savagely unhealthy

Housing Wire

You can see why I have been on team higher mortgage rates for some time now because we don’t have any other way to get off this madness. To get the housing market to be sane and normal again, we need inventory to get back in a range between 1.52 – 1.93 even for rental housing. even for rental housing.

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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. So when I talk to loan originators today, I harken back to my early days when fixed mortgage rates were over 14% and there were absolutely no refinances to be had. Things will get better.

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What 5% mortgage rates mean for the housing market?

Housing Wire

We’ve all been wondering what 5% plus mortgage rates would do to the hot housing market, and now we’ve got that and a bag of chips. As a result, I’ve been rooting for mortgage rates to rise to create a balancing impact on this housing market. Have higher rates worked?

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The 2022 housing market: A tale of two halves

Housing Wire

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)