Category Archives: Mortgages

December a mixed bag for NJ real estate

Posted on January 11, 2024 by grim

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

NJ real estate will do great … as long as rates drop

Posted on January 5, 2024 by grim

From NJ Spotlight News: NJ home sales poised for a 2024 comeback? In the first days of the new year, New Jersey analysts predicted that New Jersey’s beleaguered housing market is poised to make a comeback in 2024 if interest … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 110 Comments

What’s next year got in store?

Posted on December 30, 2023 by grim

From Bankrate: 2024 first-quarter housing trends: Rates begin to thaw “We typically see housing inventory remaining low until February and then ramping up from March onward,” says Lawrence Yun, chief economist for the National Association of Realtors. “Homebuying and open … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, Mortgages, National Real Estate, Where's the Beef? | 40 Comments

Room to run

Posted on December 15, 2023 by grim

From Business Insider: The Fed brought some relief to the housing market The Federal Reserve’s forecast for easing monetary policy in 2024 fueled stocks to new highs, dragged bond yields lower, and sparked a fresh wave of exuberance across Wall Street.  … Continue reading →

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

Uh Oh

Posted on December 1, 2023 by grim

From CNBC: Pending home sales drop to a record low, even worse than during the financial crisis Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since … Continue reading →

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

Tippy Top?

Posted on November 22, 2023 by grim

From CNBC: Home sales fell to a 13-year low in October as prices rose Sales of previously owned homes were 4.1% lower in October compared with September, running at a seasonally adjusted annualized rate of 3.79 million units, according to … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 79 Comments

Somebody’s not happy

Posted on November 17, 2023 by grim

From the NYT: The Fed Has Put Our Housing Market in Jeopardy The Federal Reserve’s relentless attack on inflation is jeopardizing our housing market. The resulting damage is not only having an impact on a critical engine of economic growth … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 75 Comments

Golden Handcuffs

Posted on November 8, 2023 by grim

From the Philly Inquirer: How the ‘lock-in effect’ is helping shape today’s housing market Why? the supply of homes, as measured by homes for sale, is way down. It looks like we will end 2023 with inventory shrinking between 10% … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 77 Comments

Done?

Posted on November 2, 2023 by grim

From CNN: Markets rise after Federal Reserve hits pause again on rate hikes US markets soared higher Wednesday, rebounding after a dismal October and three straight months of losses. The Dow rose by 221 points, or 0.7%, in Wednesday trading. … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 86 Comments

Who the heck is refinancing right now?

Posted on October 26, 2023 by grim

From CNBC: Adjustable-rate mortgage demand hits highest level in nearly a year as interest rates continue to climb Mortgage demand has essentially stalled at the slowest pace since 1995 as mortgage interest rates continue to rise. Total application volume dropped … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Where’s the tipping point? 9%? 10%?

Posted on October 23, 2023 by grim

From CNBC: The housing market was already painful, ugly and anxious. Now the 8% mortgage rate is back Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 57 Comments

Home sales hit 13 year low

Posted on October 20, 2023 by grim

From CNBC: September home sales drop to the lowest level since the foreclosure crisis Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Please don’t raise rates

Posted on October 12, 2023 by grim

From CNBC: Housing industry urges Powell to stop raising interest rates or risk an economic hard landing Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging … Continue reading →

Posted in Economics, Mortgages, Politics | 114 Comments

Who wants mortgages?

Posted on October 9, 2023 by grim

From HousingWire: Fannie Mae’s chief economist: ‘We don’t expect spreads to come down anytime soon’ When mortgage rates blew past the 7% level earlier this year, the securitization market “froze up temporarily,” according to Doug Duncan, senior vice president and chief economist at … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 100 Comments

What breaks first?

Posted on October 6, 2023 by grim

From the NYT: Rates Are Jumping on Wall Street. What Will It Do to Housing and the Economy? Heather Mahmood-Corley, a real estate agent, was seeing decent demand for houses in the Phoenix area just a few weeks ago, with … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 122 Comments