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Housing Market Tracker: Inventory falls even lower

Housing Wire

The seasonal housing inventory bottom evaded us again last week as active listings fell and new listing inventory decreased. Mortgage rates didn’t move much last week, but the 10-year yield rose even though inflation data was tamer than expected, and we had a weaker retail sales report number.

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FINDING THE KEY TO UNLOCK ‘STUCK’ HOMEOWNERSHIP RATE

Will Springer Realtor

Calling upon Fannie Mae, Freddie Mac and other secondary-market mortgage holders to lower the bar to ownership through tax credits, larger deductions on mortgage interest and greater options for down payment assistance can also help. >> Forty-five percent of residential mortgages in the U.S. was $1889. >>

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HOUSING ‘TRIFECT’ PUTTING SQUEEZE ON BUYERS

Will Springer Realtor

NAR’s Housing Affordability Index is a good measure of whether a household earns enough to qualify for a mortgage on a typical home. Others are specializing in the design and construction of accessory dwelling units (ADUs) as detached backyard homes (also known as “ mother-in-laws ”). >> Bellevue is rated No.

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Signs of Inflation Expand Well Beyond Housing Prices

Will Springer Realtor

The boost in equity was helped most simply by saving more while in “pandemic hibernation” and from many homeowners refinancing mortgages amid generationally low interest rates. >> million loans in forbearance – mortgage payments on pause, most likely for financial reasons during the pandemic. of all mortgages in the country.

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TRACKING THE SINGLE HOUSEHOLD AND OTHER LIFESTYLE CHOICES

Will Springer Realtor

Designers are helping builders broaden options to create homes that consumers can afford – no easy task. Builders are partnering with mortgage lenders to deliver lower interest rates, either through temporary or permanent rate-busting promotions. The twin high-rises opened in 2015 and 2016 and sold out quickly.

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RISING INFLATION, RATES TRIP UP HOUSING MARKET

Will Springer Realtor

This, coupled with a significant portion of homeowners standing pat with mortgages at or below 4% interest (and other factors) is causing the market to lose steam. Home shoppers often focus on the direction of mortgage interest rates, which have jumped more than two percentage points this year alone to a range of 5.75%-6.0%

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HINTS OF SHARP INCREASE IN NEW CONSTRUCTION

Will Springer Realtor

There are no signs of a real estate crisis, particularly in the Puget Sound region, where prices keep rising – up about 20% the past year and 68% in Seattle alone since 2016, by one measure – amid a dearth of inventory and surge of buyers. And the answer is, It’s not going to crash. See the August housing report further below, if you dare!).