Our monthly real estate market report includes information about housing prices, inventory, mortgage rates, home sales and market predictions. We summarize news headlines and share important market updates.
Here are some quotes from this month’s report:
- A return to a normal spread between the government borrowing rate and the home purchase borrowing rate will bring the 30-year mortgage rates down to around 6%.
- The housing market is expected to face continued uncertainty heading into 2023 as consumers, financial markets, and policymakers work through their respective challenges in today’s economy.
- Because we see a slowdown, and we see the inflation comparisons start to become more and more favorable, you’ll start to see that inflation number move lower, lower, lower, lower. And as a result,mortgage rates should move similarly on a downward trajectory—probably giving us around 5%, below 5% within the next six months.
- Homeowners have very high levels of tappable home equity today, providing a cushion to withstand potential price declines, but also preventing housing distress from turning into a foreclosure. . . . the result will likely be more of a foreclosure ‘trickle’ than a ‘tsunami.’
The article is provided by Sparkling Marketing, Inc. with content from Keeping Current Matters. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions.