Mortgage Rates EXPLODE | Housing Market Update

Mortgage Rates EXPLODE | Housing Market Update

0:00 - Intro
1:30 - Mortgage Rate Update
16:45 - Video: Rates High Enough for Spring?
28:50 - Video: Spring Inventory Coming?
35:40 - Real Estate Update: Purchase Contract & New Home Prices
41:50 - Liquidity Update / Recession Indicators
49:00 - Video: Inflation Fight is Not Over
53:30 - Q & A
1:04:00 - MLS

[juanlramirez]

Let me tell you a story. I am a realtor and my old pastor asked me if he should buy back in mid 2022 when rates were going up. I told him he should wait because I felt that prices were going to drop. Back then I was mostly helping sellers make as much money as possible before their prices dropped. A few months ago I saw a fb post that he had closed on a new build. He used a realtor that was brand new. I get it, most people will say “ well at least you are not the one that got him on a bad deal” but I am also the one that didn’t make the commission. People don’t listen, all they want to hear is rainbows and sunshine. They will still buy with someone else.

[erinsweet]

57:16 my husband is a travel healthcare worker. He gets 13 weeks assignments. Over the past 3 years the pay has done from $1600 a week to $3, 000 a week (this job comes with a lot of expenses like gas, lodging, we live in an RV). Now the jobs are fewer and the pay is going down to $2200-2500 a week. If it’s goes back down too much it’s not worth traveling.

[lizbethj]

One of my past realtors just posted posted this~~ In 1971, the interest rate for a mortgage was 7.33%. If you waited for interest rates to go down, you wouldn't have purchased a home until 1993. You would have rented for 22 years waiting for rates to go down, meanwhile the value of real estate quadrupled. Don't wait to buy real estate. Buy real estate and wait.
Marry the house, date the rate.

This is the same realtor that told us to leave the basement windows open when the buyer was doing the Radon test😲

[JungleBook]

My parents bought their place as a short sale in 1991 for 250k at a 10% interest rate. I think those are the type of interest rates we need to see

[noel]

You’re right Travis, I lost my job in October of 2008 and wasn’t able to find employment till April of 2009. It wasn’t because I didn’t try, I was applying for minimum wage jobs just so I could feel like a man and work.
It’s a scary thing when you can’t find work and those 5 months of being unemployed will haunt me forever.

[cgorman]

We need 12% for 24 mo and force cost reduction from Artificial valuation jumps of 40-60% by inspectors and appraisers

[cario]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 7k in August 2023...

[rdm]

I got a 6.625% rate in May 2023 last year. Hoping to refinance. Should I be paying down the principal. Currently paying an additional $150 a month

[threeftr]

One of the reason so many people have crazy FOMO is because they been told to wait wait wait, sit on the sidelines, it's not a good time to buy for years now. For many there will never be a perfect time, or good time to buy. Buying a house involves a lot of compromise. The location, the price, the interest rate, the condition of the home, the size of the home. Waiting and expecting home prices to go back to 200k or to 250k are prices from 20 years ago is unrealistic.
. Yes many areas dropped in 2008 in and around big cities, but many other places didn't drop very much, and bounced right back with a higher price, but that's never talked about.
Only you and your family can decide when and where to buy. Yes all this information out on YT is very helpful, but many people sitting on the sidelines now for years could have had a lower priced house and a lower interest rate than it is today. .
Many could have already paid 2-5+ years on a mortgage. Paying 2k or more for a 600 sq ft box is more ridiculous than buying a couple of years ago. While at the same time your kids are growing up. Life goes on, while you waste your money on a box that's not yours.

[grampathebiohacker]

You go your best work on the livestreams brother a very good flow and command. Thanks for all you do

[dnah]

So if i can buy my way into a lower rate then I should save up and get the lower rate maybe on a 15 yr loan.

[azulmediapro]

Hello, new here and this is so much info. I haven’t had the chance to learn. Could someone provide more info to learn about pricing, interest rates etc. so I can prepare to purchase a home in the near future. Been waiting for years and want to prepare. I’m in the Portland metro area and the market is warm. Still many coming from out of state to purchase (especially California). Please provide some info I would greatly appreciate it. Thank you for the videos but need to know where to go since I’m new. Thanks Real estate Mindset.

[Aries]

Travis.., The word you are looking for: is “sentiment “. not “sediment “. You are welcome.
Thank you for your diligent work ethic! 🙏👍

[HammeringTruth]

In 1982 I took an adjustable rate mortgage at 11.5 percent. The broker and realtor told me I was crazy for not taking the 13 percent fixed. They said rates would never go lower. I was right

[daddytaz]

Multiple inspections? It costs $500-$800 each time they come out and inspect. You crazy Travis. Change a light bulb, hire a $700 inspection to come look at the change light bulb?

[RockawayBeachNY]

There is much more inventory compared to last year and there will even be more homes hit the market in spring.

[robnowe]

For a RE promoter... is it ever not a great time to be a seller or buyer?

[SongsforSpace]

How are house prices a viable business investment for even huge corporations? I don't see how this is happening

[tim]

I paid $2.80 for a doughnut at Dunkin yesterday. I feel like a deepfried doughnut hole.

[thomashill]

For the vets I just want to point out that it’s 100% permanent and total rating you’d have to seek. 100% by itself won’t wave the property taxes. And legally you’re not supposed to work if you get that rating. 🙏🏽