Over the last few decades, the 30-yr fixed mortgage rate has run at 1.75% over the 10-yr yield - which if true today, it would put us at 5.0%, instead of 6.0%. Here's what the MND thinks about the bond yields: As for Treasuries, yields are now high enough as to be...
https://twitter.com/SamuelWigness/status/1537135625953955841
By the end of today, the 30-year mortgage rate should be in the mid-6s - who would buy a house now? Between higher prices, higher rates, and the hefty federal and state capital-gains tax, the move-up/move-down homeowners are effectively locked in to their existing...
The frenzy wasn't going to last forever. Coming off the initial covid months, everyone thought the red-hot market was an acceptable reaction to the way our world had changed. But it's gone too far, and somebody had to do something - and the Fed is going to do it...
As you can see in my mortgage-rate tracker (in right column), we had another meltdown today, and the conforming rate now is over 6% (with no points). The idea of paying higher prices AND rates really discourages the move-up/move-down markets. Combined those with...
With mortgage rates blowing through the fives and another Fed meeting coming up on Wednesday, I think we can declare that the frenzy is over. Or at least we can expect that it's over in the buyers' minds. But one fact remains the same: There still isn't anything to...
This film was taken on May 25th, a month after mortgage rates hit 5%. I can't wait to hear from the doomers who swear that because sellers had to take a whopping $50,000 haircut off the list price to sell this house to cash buyers who closed in two weeks (with sellers...
Realtors are saying that the market is slowing, and Marc D. suggested that we define what that means: A slowing market is when fewer active listings are priced to sell. It is a result of..... Fewer buyers - Higher mortgage rates priced out some or most of the buyers...
While the market may be calming down, there are still properties selling for well over the list price!
This is the only other sale located on the Encinitas Ranch golf course that might be considered a comparable sale, but it's a completely different offering. The house has 5,200sf with pool on a half-acre lot - with no threat of golf balls hitting you while in the...
