Redfin: A “Frigid” Housing Market is Coming

Redfin is reporting that this recent uptick in mortgage rates has caused a further pullback in home buying demand. Mortgage rates have increased about 1 percentage point since August 1st which could be a reason why the number of home tours in the US have gone down and why mortgage purchase application volume is sitting at the lowest levels since Nov 2016 (excluding April 2020). Redfin’s Chief Economist is also forecasting a “frigid” fall and winter this year.

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Compilation of Housing Market Forecast videos:

Article I cited in today’s video:

Housing Market Update: Mortgage Rate Spike Further Cools Homebuying and Selling

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6% for the current mortgage rates (at the time of filming this video for those with excellent credit).

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

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#Redfin #homeprices #housingmarket