The housing market is enslaved to mortgage rates, just as a planet is captive to its orbit. By definition, an orbit is cyclical, and so are interest rates.
Uncertainty is the word of the season among consumers, analysts, builders . . . well, just about everyone.
The internet revolutionized the gathering and distribution of information. The reservoir is much wider and deeper. The flow is faster and more voluminous. Are consumers better off? Did the world speed by the point of balance between too little and too much information?
Builder confidence in October 2022, as measured by the National Association of Home Builders, dropped to 33.
Federal Reserve Bank officials explicitly warned investors that the stock and bond market exuberance over the October decline in the CPI to 7.7% was irrational. Treasury bond investors ignored the warning, pushing the 10-year down slightly early in the week.
Homes for sale inventory is climbing rapidly to no one’s surprise. The number of listed homes rose 33.5% in October 2022 from the prior year, according to Real Estate News.
Our recap of the week in numbers from equities to bonds to commodities and housing to the many indices and
In the first part of this deep dive into the variables that influence the housing market, we described a fundamental conundrum of the housing market over at least the past 20 years — affordability is decreasing and so is supply.
In the children’s game by which we have titled this post, all players but one stand at a distance from the “goal”.
The 30-year mortgage rate slid 33 basis points this week from 7.37% to 7.04%, erasing all of last week’s increase.
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