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Mortgage rates surge to highest level since 2000

Housing Wire

Just before noon on Thursday, they were Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.31% as of Sept. 28, up 12 basis point from last week ’s 7.19%.

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Homeowners Have Zero Incentive to Upsize in This Current Housing Market  

Appraisal Buzz

Compare this to 2000-2022, when upgrading to a 25% more expensive home would have required the average homeowner to increase their principal and interest payment by only 40%, or about $400 per month, according to the report.

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Lower mortgage rates are stabilizing the housing market

Housing Wire

This time the hit on demand is much more challenging as we are working from a savagely unhealthy rise in home prices since 2000, and mortgage rates have skyrocketed in the most prominent fashion in modern history. Also, I believed the risk to the housing market was if home prices grew more than 23% over the five years of 2020-2024.

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You can’t buy what’s not for sale in the housing market

Housing Wire

The housing market functions differently than other markets because it can be characterized as a heterogeneous, thinly traded, illiquid market. In other words, it’s a diverse market with a wide variety of different homes of varying ages and levels of repair, and sales happen very rarely. The result is fewer sales.

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Working with buyers in the nation’s hottest housing market

Housing Wire

Austin, Texas might be the hottest housing market in the country. It is just a super tight housing market. I haven’t seen anything like this here, and I’ve been doing this since 2000,” Richardson said. “I think what’s going on is a shock to people in the Austin market,” Van Dyke said.

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Housing Market Tracker: Mortgage rates fall after SVB failure

Housing Wire

Last week was wild, and not just for the housing market. Inventory grew during the housing bubble years because housing credit was much looser back then, and people could move more freely. Mortgage rates fell even though the jobs report was stronger than anticipated.

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Kiavi closes on $350M securitization 

Housing Wire

The lender also communicated that it funded $4 billion in fix-and-flip loans in 2023, a company record for a calendar year, despite the challenging housing market. of all home purchases in Q3 2023, higher than the typical share seen since 2000. But home flips still represented 7.2%

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