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Why higher rates aren’t crashing home prices

Housing Wire

The housing bubble boys are a crew that from 2012 to 2019 screamed housing crash every year. Well, it’s June 9, 2023, and home prices have been firm month to month, not showing anything that resembles the housing bubble crash years. I mean, it’s year 11 now of the housing bubble 2.0

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Housing Market Tracker: Still no spring inventory lift

Housing Wire

Housing demand grew and inventory levels fell again while mortgage rates rose. Here’s a quick rundown of the last week: The 10-year yield battle continues as bond yields rose early in the week only to close below 3.50% on Friday. Mortgage rates rose to 6.57%.

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Will the 10-year yield send mortgage rates over 4%?

Housing Wire

I have been a happy camper lately, particularly with the rise of the 10-year yield as I am seeking balance in the housing market. I retired in 2020 from the mortgage business after 24 years, so I understand how some people who were floating their rate lock might not feel this way.

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What the Fed rate hike means for the economy

Housing Wire

On Wednesday the Federal Reserve hiked interest rates 0.25%, which has forced me to raise my second recession red flag on this historic economic recovery and expansion. Job gains have been strong in recent months, and the unemployment rate has declined substantially. The implications for the U.S. The implications for the U.S.

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Housing Market Tracker: Inventory is negative YOY

Housing Wire

To give you an idea how different this year is from last year, last week in 2022, active listings grew 30,940 while this year they only grew 5,848. 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.

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Better inflation data won’t sway the Fed

Housing Wire

The Consumer Price Index data released Wednesday showed again that the breakaway 1970s-style inflation is not happening, even with an expanding economy and an unemployment rate under 4%. Pivoting doesn’t mean they’ll cut rates, it just means they’ll change their language describing the economy.

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Will Omicron variant stop first Fed rate hike?

Housing Wire

During this Thanksgiving week, we went from higher yields and the first Fed rate hike storyline to a big drop in bond yields and scary headlines on a new COVID variant, Omicron. Federal Reserve first rate hike? Expect a lot of volatility with bond yields. 10-year yield and mortgage rates.

Retail 538