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Housing was expected to become affordable in 2024, but mortgage rates remained elevated, and prices continued to increase. While a brief decline in mortgage rates to 6.08% in September offered a glimmer of hope, rates subsequently rebounded to 6.85% by year-end.
The Great Housing Affordability Wait Read More »
RiskWire now offers forecasts for key macroeconomic indicators like unemployment, inflation, and mortgage rates. Whether you’re an investor, business owner, or curious about the economy, these insights can help you make informed decisions. Visit RiskWire’s Market Indicators page for accurate, timely forecasts.
RiskWire: Access Macroeconomic Forecasts Now! Read More »
Mortgage interest rates have been more or less declining over the past four decades from a peak of 18.3% in October 1981 to a bottom of 2.7% in July 2021. This was mostly driven by a Federal Funds Effective Rate that dropped from 15.1% to 0.09% over the same timeframe.
The Fed Got Its Mojo Back Read More »
The AI industry is flourishing, resulting in an expected real estate demand increase. However, Housing prices in San Francisco are still unaffordable. It remains unclear whether the housing market will improve in a big way, despite VeroFORECAST predicting a 3.6% drop in housing prices over the next 12 months in the city.
Will San Francisco’s technology sector lead the housing market recovery? Read More »
Curious where the Spring 2023 housing market is headed?
Listen to the latest episode of the National Mortgage Professionals podcast titled “What to Expect from the Spring Buying Season,” where Eric Fox, Veros’ Chief Economist, discusses the recent dramatic market volatility and how it may stabilize.
Podcast: What To Expect From The Spring Buying Season Read More »
The housing market situation is fundamentally different from that during the great recession of 2008. One of the key reasons why house prices have not declined significantly is because of the very low inventory of homes available for sale. There were fewer than one million existing homes available for sale in January 2023 compared to over 3 million in any month during 2007-2008.
What to expect in the upcoming spring housing market Read More »
The housing market situation is fundamentally different from that during the great recession of 2008. One of the key reasons why house prices have not declined significantly is because of the very low inventory of homes available for sale. There were fewer than one million existing homes available for sale in January 2023 compared to over 3 million in any month during 2007-2008.
The reasons for the stubbornly low housing supply Read More »
High home prices coupled with high interest rates made purchasing a house increasingly unaffordable. As a result, demand for home purchases fell. Pending sales across the United States decreased by over 40% from mid-June to the end of 2022.
Pending home sales display buyers’ response to fluctuating mortgage rates Read More »
In this short article, we look at three different consumer mortgage metrics when comparing the economic conditions today to the Great Recession over a decade ago.
Mortgage Metrics Today Versus the Great Recession Read More »
So, we asked ChatGPT: Which metros witnessed the most iBuyers purchases in 2022? Here’s ChatGPT’s surprising response…
ChatGPT on iBuyer performance in 2022 Read More »