Selling Real Estate

Mortgage Demand & Pending Home Sales Plummet

Total mortgage demand sank to a new 22 year low as housing affordability is taking a heavy toll on homebuyers. In today’s video, I share the latest update regarding total mortgage applications in the US according to the Mortgage Bankers Association. The MBA’s purchase index, which is a measure of home buyers submitting mortgage applications, fell to levels we haven’t seen since Nov 2016 (excluding the COVID lockdowns in April 2020). In addition, the National Association of Realtors reported today that pending home sales in the US fell by 20% from a year ago despite the fact that there’s about 50% more houses for sale now compared to Feb 2022.

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Compilation of Housing Market Forecast videos:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 5.5% 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.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty One Group in California under DRE 01923240.

#realestate #interestrates #mortgage

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