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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. They increased the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. As inflation eases, so will long term mortgage rates. They eased below 6.5%

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What does the new normal for first-time homebuyers look like?

Housing Wire

Buyers and sellers alike have now anchored their expectation of “normal” to sub-3% mortgage rates, multiple-offer bidding wars, and double-digit annual price growth. There remains a deep-seated desire for homeownership, especially among younger millennials who continue to age into their prime home-buying years.

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Logan Mohtashami on why this is a savagely unhealthy housing market

Housing Wire

In this HW+ Slack Q&A , Lead Analyst Logan Mohtashami gives the inside scoop on where rates are headed, whether or not he has updates to his 2022 forecast and more. What has remained the same? However, since I had the possibility of the 10-year yield getting to 2.42% and 4% plus mortgage rates, I accounted for that in the range.

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The current challenges to increasing the homeownership gap

Housing Wire

This article is part of our housing market economic update series. While the homeownership rate in the U.S. The homeownership rate for Black Americans has actually declined between 2010 and 2020 and stands at 43.4%, while the homeownership rate for white Americans is 72.1%. For Asian Americans the rate is 61.7%

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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. Mortgage rates rose last week after the better-than-anticipated jobless claims data but even with higher rates, we also had a third week of positive purchase application data. However, I need to put some context into what happened in 2022.

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Mike Fratantoni on MBA’s 2022 mortgage market forecast

Housing Wire

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

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Appraisal Institute Counters Flawed Appraiser Bias Narrative

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on non-lender appraisals, forms to reports modernization, AMCs, earthquake risk, unusual homes, mortgage origination stats, etc. == == Rare Coastal Contemporary Manchester, MA, for $9M Excerpts: 5 bedroom, 4.5 bath, 5,258 sq.ft. Manchester-By-The-Sea.