Housing supply is at record low levels and part of the reason why is due to mortgage interest rates skyrocketing this year which is causing home owners to not sell their houses. In today’s housing market update, I share the latest details from the National Association of Realtors for the US housing market.
Meanwhile the average 30yr fixed rate mortgage is around 5% (the highest levels since November 2018). Mortgage rates have now skyrocketed ~1.6% from one year ago!
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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 5% for the current mortgage rates (at the time of filming this video). This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
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 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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Originally published at https://www.youtube.com/watch?v=tKAjzsNAXkY
This news story originally appeared at Real Estate - Trend Magazine on 2 May 2022