market data: Mortgage Applications Up - What Does It Mean?
- 11/16/22 02:00 PM
Why am I posting today about mortgage applications when data on them is and has been released weekly for as long as I can remember? Because this week signifies the first time application data has been released in a week where we saw a significant drop in interest rates. Mortgage rates haven't seen any substantial drop since 2021 when inflation began to grip the market place, but last week's low inflation reading caused mortgage rates to dip more than half a percent in a single day.
And what happened next? Refinance applications continued to fall. This makes sense, because there's a massive amount … (5 comments)
The real estate market is getting a lot of negative press at the moment. From some “experts” calling for a housing crash (the same ones who have been calling for a dip for over 5 years now…maybe eventually they’ll be right after another 10%+ jump in home prices this year!), to headlines about bidding wars, absurd “over list” offers with people spending 6 figures over asking price, and other articles about the shortages of inventory we’re experiencing. And yes, it’s a wild world out there in the real estate jungle, but there’s also a lot to be optimistic … (5 comments)
"Affordable" is not the first word that comes to mind for anyone involved on the buying side of today's real estate market. While we realize that real estate is local and every market is somewhat different, the vast majorities of markets in the US today have one thing in common - prices that are going up, up, and more up. DOGE coin isn't the only thing that's been going "to the moon" the past year, as real estate prices have risen nationally in the 10-12% range.
With that in mind, would you believe we're in the midst of … (27 comments)
Have you seen the market SHIFT? Can you feel the SHIFT? How are you handling the SHIFT? These are questions that have popped up frequently amongst the real estate community in the past few months. Realtors are wondering why homes, recently selling in 1-2 days, are now taking 2-4 weeks or longer to move. Why buyers, who not long ago were willing to bid to the moon and stars to get a home, are backing off of overpriced listings or buying altogether.
I'd argue that rather than a SHIFT, we're actually amidst normal market … (40 comments)
Each year, Mason McDuffie holds a summit in Incline Village, Nevada on Lake Tahoe at the Hyatt Regency. This event rewards top producers and offers up a weekend of comaradarie, great speakers, food, drinks, and some of the best scenery in all of California.
I've been fortunate enough to be a part of the past 3 years worth of Tahoe events, and this year was especially rewarding as I was asked to speak and moderate a panel of some of our best and brightest sales talent. The 3 day event consisted of … (15 comments)
I'm pretty confident in my forecast for this week - and my prediction is that the market will be less crazy than last week. A very political posture, I know. If things were going to be crazier than last week, I'd likely just take a vacation. This week we'll likely see things settle down as traders try to find their way and establish a direction. After the hit the stock market took last week, there's room for a furter decline, but room for the DOW to recoup some losses as well, … (5 comments)
This was a good week for bonds, for the first time in a while. Bonds have seen improvements throughout 2014, and rates have come down as a result, but this is the first week in a while there were multiple sustained rallies that came about as a result of typical market moving news. In past forecasts and updates I indicated the 17,000 mark for the DOW would prove to be a tough barrier to break, and that's proven to be true. This week's stock market reversal … (6 comments)
After last week's craziness, we got a chance to breathe this week. The market showed little total movement thanks to a lack of major economic reports, but as I discussed in my Monday Forecast, global events played a role in nearly all of the market movements this week
We've got Ebola in Africa, Hamas in Gaza & Israel trying to erase eachother from the planet, civilians being murdered in Iraq, American bombings in Iraq (I thought we were out of there … (5 comments)
Why am I posting today about mortgage applications when data on them is and has been released weekly for as long as I can remember? Because this week signifies the first time application data has been released in a week where we saw a significant drop in interest rates. Mortgage rates haven't seen any substantial drop since 2021 when inflation began to grip the market place, but last week's low inflation reading caused mortgage rates to dip more than half a percent in a single day.
;)
;)
;)
