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Wage growth downtrend kills 1970s inflation fear

Housing Wire

Given Friday’s job report , those who have been concerned with entrenched 1970s inflation — which would lead to double-digit mortgage rates — can put their disco shoes back in the closet. And even with sub-4% unemployment rates for some time, the annualized three-month wage growth average is 3.2%. percent, the U.S.

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Housing inventory defied all predictions in 2023

Housing Wire

Going into 2023, people thought housing inventory would skyrocket, home prices would crash, and we would see the housing market of 2008 all over again. We created this weekly tracker at the end of 2022 to give people a live weekly outlook on everything that drives the housing market and which factors to follow.

Inventory 514
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Housing Market Tracker: Still no spring inventory lift

Housing Wire

Last week was relatively calm for the housing market after the fiasco of the banking crisis. Housing demand grew and inventory levels fell again while mortgage rates rose. Mortgage rates rose to 6.57%. The 10-year yield and mortgage rates Last week was interesting for the 10-year yield and mortgage rates.

Inventory 491
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Why home prices haven’t crashed even with high mortgage rates

Housing Wire

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 533
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What do economic trends mean for housing in 2023?

Housing Wire

This article is part of our ongoing 2023 Housing Market Forecast series. After this series wraps, join us on May 30 for the next Housing Market Update Event. As broader economic events have taken center stage since last summer, the market has grown increasingly volatile. To register, go here.

Inventory 382
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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. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. They increased the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% As inflation eases, so will long term mortgage rates.

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Housing Market Tracker: Banking crisis is a new variable

Housing Wire

The housing market was crazy again last week. Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? This bond market is screaming at the Fed to cut rates.