News about housing

Average 30-Year Mortgage Rate in the US… 1970s: 8.9% 1980s: 12.7% 1990s: 8.1% 2000s: 6.3% 2010s: 4.1% 2020s: 4.8% --- All-Time Low (Jan 2021): 2.65% 2023 Peak (Oct 2023): 7.79% Today's Rate: 7.03% creativeplanning.com/charlie/ pic.twitter.com/M9LyGTjD4X

Does anyone else in the real estate industry actually think that a 25bp rate cut will lead to a.... “material lift” in sales & “accelerated home price appreciation” This feels like an attempt to create FOMO to push buyers back into the market www.theglobeandmail.com/business/article-royal-lepage-president-predicts-material-lift-in-home-sales-after-boc/

We are in a historically significant chapter for housing, one that has witnessed affordability deteriorate to levels unseen in decades In fact, 2021-2023 has seen the fastest-ever deterioration in U.S. housing affordability. That'll happen when mortgage rates spike from 3% to… pic.twitter.com/8mz9w6B8p3

“Syndicators made big purchases that are unraveling with high interest rates, adding distress to an already troubled US property market.” via @pat_clark www.bloomberg.com/news/features/2024-06-06/real-estate-investors-face-crisis-as-big-wall-street-deals-unravel?srnd=homepage-americas