Unsettling News for the US Housing Market
Mortgage interest rates have spiked to nearly 7% and this is causing home buyers as well as home sellers to back off. According to Redfin, due to mortgage rates surging “the typical homebuyer’s monthly mortgage payment has climbed $337 (15%) over the past six weeks.” Meanwhile, pending home sales dipped to the lowest levels since May 2020, price drops are at an all-time high (data back to 2015) and houses are selling for less than the asking price on a national average. This is your latest housing market update!
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Compilation of Housing Market Forecast videos:
https://youtube.com/playlist?list=PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi
Source of article I discussed:
https://www.redfin.com/news/housing-market-update-mortgage-payments-hit-new-high/
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.8% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty One Group in California under DRE 01923240.
#housingmarket #Redfin #Zillow
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