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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability.

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Opinion: will we see massive price drops in new construction?

Real Trends

Builders responded in kind, gearing up the development of new homes to meet the growing demand. There was one problem, we were already at a new home deficit, making the new home market incredibly competitive. New homes began to linger on the market. The new homes on the market today are top-of-the-line.

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LenderPulse Q4 2023 survey: Mortgage pros still see opportunities in the housing market

Housing Wire

The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey. About 37% of respondents were spending money in social media and 34.8%

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Benefits of Investing in New Construction Real Estate

Norada Real Estate

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. They are typically not purchased from a builder or developer. In short, they are considered brand new. This however is not common in today’s market.

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Construction worker shortage has reached “crisis” levels

Housing Wire

For career switchers looking for a new path that doesn’t necessarily require a college degree, they could do worse than the building trades. Since the last housing bubble burst, when more than a million residential construction workers lost their jobs , a shortage has developed. That’s a staggering number.”. wage of $49,000.

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Opinion: How did homeowners get into home equity prison?

Housing Wire

The New York Fed’s Center for Microeconomic Data Quarterly Report on Household Debt and Credit evidences that the total household debt balances grew by $228 billion in the third quarter of 2023 across all types of debt. Just for a moment, let’s imagine a world in which a person purchases a home shortly before a global pandemic.

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Why the Fed’s housing reset risks a global recession

Housing Wire

Over the weekend, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, said, “We are going to do all that we can at the Federal Reserve to avoid deep, deep pain.” However, a housing reset isn’t the only pressing issue — we now also have to think about a worldwide global recession. I can understand this mindset. million.

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