Category Archives: Mortgages

April sales dip

From Reuters: US home sales post second straight monthly drop; house prices accelerate U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though the … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 94 Comments

Heading back below 7?

From CNBC: Mortgage demand from homebuyers drops even as interest rates pull back to April lows Mortgage rates last week dropped to the lowest level since April, but buyers are still struggling to afford today’s housing market. As a result, … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 53 Comments

Not quite the 70s…

From Yahoo Finance: Return to the ’70s? Today’s housing market has echoes of dark era. High inflation and a disappointing report on economic growth — followed by a sudden drop in stocks late last month — made for a familiar economic combination. … Continue reading

Posted in Demographics, Economics, Employment, Mortgages, National Real Estate | 83 Comments

Has the slowdown begun?

From CNBC: March homes sales dropped despite a surge in supply. Here’s why. Sales of previously owned homes dropped 4.3% in March compared with February, to a seasonally adjusted annualized rate of 4.19 million units, according to the National Association … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 97 Comments

Mortgage rates hit 4 month high

From the Real Deal: Mortgage applications jump as buyers worry about rising rates Mortgage activity increased anyways, suggesting homebuyers and homeowners are concerned rates aren’t done rising. Applications for mortgage purchases and refinancings rose 3.3 percent on a seasonally adjusted … Continue reading

Posted in Economics, Mortgages, National Real Estate | 62 Comments

Thanks Mom and Dad!

From Coldwell Banker: 2024 Consumer Survey Key Findings – March 2024 Over a quarter (26%) of surveyed consumers have not provided or do not plan to provide financial support for their child(ren)’s first home, compared to 38% who said they … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate | 103 Comments

What if rates don’t come down?

From Newsweek: Housing Market Update: Home Prices Reach Troubling Milestone Insufficient supply of homes in the market is pushing up prices, Wells Fargo economists said, making it tougher for Americans to afford a home amid elevated mortgage rates. The median sale … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 46 Comments

Free and Clear

From NJ.com: More than 1 in 3 N.J. homes now mortgage free in major home debt shift More than one-third of homes in New Jersey are mortgage free, mirroring national trends and reaching new highs, federal data shows. U.S. Census … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate, New Jersey Real Estate | 37 Comments

Mortgage see-saw takes it’s toll

From CNBC: Mortgage rates surge higher again, causing homebuyers to pull back After a brief reprieve in December and January, mortgage rates are moving higher again, and that is taking its toll on mortgage demand. Total mortgage application volume fell 2.3% … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 52 Comments

Short refi window closes

From CNBC: Mortgage rates jump back over 7% as stronger economic data rolls in The average rate on the popular 30-year fixed mortgage crossed over 7% on Monday for the first time since December, hitting 7.04%, according to Mortgage News Daily. … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 111 Comments

Finally slowing?

From CNBC: Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may not … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 124 Comments

#hodlforever

About time the rest of the industry noted the behavioral trend that we were one of first to identify and discuss. 2) Mortgage lock-in, and this is one of the major trends I’m looking at in the near future. Should … Continue reading

Posted in Crisis, Economics, Housing Bubble, Mortgages | 59 Comments

Prices to fall in 2024?

From Fast Company: Fannie Mae expects U.S. home prices to rise in 2024; Morgan Stanley disagrees “When we published our year-end forecast, we were expecting [housing] affordability to improve. . . . If mortgage rates were to stay here that improvement … Continue reading

Posted in Housing Bubble, Mortgages, National Real Estate | 78 Comments

Foreclosure Do-Over

From NJ Monitor: Gov. Murphy signs new foreclosure protection program into law New Jerseyans facing foreclosure will have a new path back to homeownership under a bill Gov. Phil Murphy signed Friday. The new law creates the community wealth preservation program, … Continue reading

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate, Risky Lending | 30 Comments

December a mixed bag for NJ real estate

From Yahoo Finance: Real estate market update: What happened with listings in North Jersey in December December is a traditionally slow month for real estate in New Jersey and across the nation. So it’s no surprise that North Jersey experienced … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 66 Comments