30 year fixed crosses 7%, is this the real story? Prices fall first time in 10 years.

30 year fixed crosses 7%, is this the real story? Prices fall first time in 10 years.

A few weeks ago, the big news was 6% rates and now everyone suddenly woke up with stocks crashing and yields soaring to new highs and rates jumping again.  What does this mean in the short term for interest rates? Is focusing on the 30 year mortgage rate the correct...
Fannie-Mae-sees-dark-days-ahead-for-the-housing-market;

Fannie-Mae-sees-dark-days-ahead-for-the-housing-market;

It will get much worse for the housing market and the mortgage industry. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. Federal Reserve chairman Powell recently threw even more cold water on their...
Prices fall 6%, closings slip to lowest since 2015, what does this mean for 22-23?

Prices fall 6%, closings slip to lowest since 2015, what does this mean for 22-23?

  Home values slipped for the second consecutive month as mortgage costs continue to sideline buyers.  From June through August, prices usually decline about 2%, but this year they have fallen about 6%.  At the same time, mortgage rates hit highs of around 6.4%. ...
Back to office, ready to pick your seat? 3 traits that will identify the winners & losers

Back to office, ready to pick your seat? 3 traits that will identify the winners & losers

First, the pic above was the leading picture for a listing I looked at.  I guess they were stressing the work from home conveniences in the office Unfortunately this could lead to some “interesting” conversations with coworkers.   With the back to office trend in full...
10k of student loans forgiven; what does this mean for real estate and mortgage rates?

10k of student loans forgiven; what does this mean for real estate and mortgage rates?

As of the writing of this article, President’s Biden’s plan is to forgive 10k in student loan per each borrower and further extend the payment pause until year end.  How will this forgiveness impact real estate prices, mortgage rates, and prospective purchasers?  What...
Haircut prices surge, what does this mean for real estate prices?

Haircut prices surge, what does this mean for real estate prices?

If you haven’t gotten a haircut in a while, you are in for a surprise.  Haircut prices like many other services in the economy are experiencing large increases.  What does the increase in haircut prices mean for the economy and in turn real estate?  Why are haircuts...