Additionally, average 30 year fixed mortgage rates just surged to 7.67% per Investopedia and 7.34% according to the Mortgage News Daily. That’s the highest mortgage rates since approximately December 2000.
In contrast, applications for home loans to buy newly constructed houses in July surged by 36% from a year ago yet home builder confidence fell in August after seven consecutive months of increases. What a wild and volatile housing market we have.
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Compilation of Housing Market Forecast videos:
Reports I shared in today’s video:
https://www.mba.org/news-and-research/newsroom/news/2023/08/16/mortgage-applications-decrease-in-latest-mba-weekly-survey
https://www.mba.org/news-and-research/newsroom/news/2023/08/15/july-new-home-purchase-mortgage-applications-increased-35.5-percent
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 7.3% 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)
[email protected]
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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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