Consumer Sentiment for the US Housing Market Near a Record Low

Mortgage credit availability (i.e. the difficulty in getting a mortgage) in the US rose slightly in March but it’s still near the lowest levels since 2013. The lower the availability the more tight lending standards are. Despite the modest rise in March overall, credit availability decreased for government loans such as FHA (often used by 1st time home buyers).

I also share the latest consumer confidence survey from Fannie Mae as well. Overall, consumer sentiment towards the US housing market remains very close to an all-time record low.

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Compilation of Housing Market Forecast videos:

Articles I discussed:
https://www.mba.org/news-and-research/newsroom/news/2023/04/11/mortgage-credit-availability-increased-in-march

https://www.fanniemae.com/newsroom/fannie-mae-news/consumer-confidence-housing-market-remains-near-historic-lows

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.5% 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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#FannieMae #mortgage #housingmarket