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How the housing market will evolve in 2023

Housing Wire

This article is part of our 2022 – 2023 Housing Market Update series. They increased the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% in December 2022, its highest level since 2007 and its fastest rise in more than 40 years. It did not hit 6.7% The overall U.S. most likely by mid-year.

Marketing 432
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The 2021 housing market recap by Logan Mohtashami

Housing Wire

economy continue to recover from the lows of April of 2020, but the 2021 economic data shows it has been one of the hottest years in many decades. Retail sales have been off the charts, job openings are at 11 million, GDP growth picked up big time and jobless claims hit a level last seen in 1969. However, not only did the U.S.

Marketing 533
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What’s On Your Real Estate Mind For 2024? (Pt2)

Toronto Realty Blog

TorontoRealtyBlog Since we last spoke on Monday, are there any other things on your real estate mind? Let me throw some skin in the game here: my mortgage comes due in November of 2024. I’m on a 2.59% fixed-rate mortgage. What will prevailing rates look like in November of 2024? Any new developments?

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When borrowers ‘ghost’ their servicers

Housing Wire

He is used to it by now, but the problem has only gotten worse since the beginning of the COVID-19 pandemic. Goldstone is an executive at a mortgage servicer company trying to reach out to homeowners. “We Most homeowners who stopped their mortgage payments have successfully arranged a graceful exit from forbearance. of the U.S.

Loans 370
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The Road Ahead

Toronto Realty Blog

But while we can use numbers to say anything we want after the fact, by looking at price, sales, active listings, new listings, days on market, absorption rate, month-over-month, year-over-year, et al, today, I want to look at May specifcally to see if June follows suit. In recent years, we’ve seen the peak hit around March or April.

Sales 83
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Logan Mohtashami: The 2022 housing forecast

Housing Wire

Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. The 10-year yield and mortgage rates. That range dictated that mortgage rates would roughly stay between 3.5%-4.75%.

Mortgages 544
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5 Silver Linings for Home Buyers in 2023

HomeLight

Everything from stubborn inflation and increasing mortgage rates to potential home price declines could cause potential buyers to rethink a new home investment. Competition has fallen from highs Home sales were on a tear throughout the pandemic, hitting the highest levels since 2006.

Mortgages 103