Mortgage Rates Fall to Nearly an 8-Month Low

BREAKING NEWS: mortgage rates just fell to a 7.5 month low. In today’s video, I’ll discuss how this is affecting the US housing market and I’ll also share other leading indicators of home buying demand so we can gauge which direction our US housing market is headed including mortgage application numbers (per the Mortgage Bankers Association or MBA), real estate agent showings, searches for homes for sale, etc.

Thank you for watching the video! I appreciate you. Please like, share this video and subscribe! Links to all the reports I discussed are below.

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Compilation of Housing Market Forecast videos:

Reports I covered in today’s video:

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30 yr fixed rate mortgage is around 6.6% (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 (inactive CPA lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)

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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.

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#mortgagerates #interestrates #housingmarket

[joeytollinchi]

If rates go to 5 or 4 get ready sellers are going to get even crazier with prices. Smh

[ButtercupVanilla]

Time for me to put my home on market for sale!

[jaredhaxton]

I am about to buy a new build. The builder's preferred lender quoted me 7.1% and the lender I have used for most of my previous transactions has me at 5.92%. Shop around for a rate if you are buying!

[marksgoogle]

I'm seeing houses sit on the market since Oct. Inventory is low but they are also not moving

[Chew]

I don't think anyone would list their house during the holidays unless they absolutely had to.

[MrRedhothitsng]

Woke up fm these FOMO behavior from the past.... Im not gonna stress about it... even if interest rate drop.... its still very unaffordable....

[KRD]

A house in my area sold for $589K in Jan 2021, and was just listed the other day for $1, 074, 900. Lower rates aren’t going to make the price magically more affordable, or in my opinion, reasonable …it just makes the payments slightly less.

[Ja]

Good morning Jason. Real estate is local, however I can confirm that in my county closed sales and pending contracts have not increased. It seems like a combination of higher home values and interest rates are still deterring buyers.

[laylabono]

I'd Rather M ove back in Tuscany and buy a Villa for 500k .Here with 500 i buy a Trailer in WA State.

[homeruninspectionsllc]

Last year this week in the Florida Panhandle, I did zero inspections. This year, 3. All new homes. I hear things are not as Rosy in Oklahoma, which, according to Jason's map, is part of the South as well. Thanks for the info Jason👏

[frankbrock]

Builders have been offering rate buy downs, which has only served to mop up the final puddle of demand. New inventories are growing.

Take a look at other consumer durable goods. Trucks, for example, are now experiencing massive increases in inventories. Truck prices are sky high, and sales are falling through the floor.

No one can keep up with all these high prices, and something has to give. I predict multiple and all-at-once crashes in all durable goods that have experienced extreme price markups over the last 3 - 4 years.

It's going to be CRASH-CRASH-CRASH in so many areas. Hold on to your CASH as the big downturn is coming in so many categories.

BUY CHEAP LATER!!!

[hungp.]

If rates drop in the 5s, there's going to be a ton of buyers jumping off from the side lines. Then the frenzy will start again.

[lakelvp]

Buying a mortgage on a bubble priced asset is financial suicide and this will likely become apparent in 2024, despite 24-7 real estate industry marketing.

[gemechannel]

Mortgage applications will surge just after the new year. Welcome 2024!

[thangvo]

Thanks for all the videos Jason. I do watch most of your videos and it does keep me informed overall with the market, economy, rates, etc. I am a small time investor with 8 homes in SoCal and Scottsdale, your videos are very helpful.

[eimidioskouroi]

More houses are projected to be on the market at the beginning of the year. However, not enough to fill the demand that will come with impending lower interest rates. It will just push the prices up for the houses that do come on the market. That's at least one scenario, yes?

[Jesuisenamour]

I am eagerly waiting to see the reaction of all the flippers in this comment section who are encouraging others to buy, when rates go down buyers still wait on sidelines for them to bleed and then they have to sell at 20- 30% pct discount from what they bought for. 😂

[javiercuevassanchez]

There's no sales cause houses r still way too high

[roxycauldwell]

Housing shot up in my area again. In middle of nowhere PA they're asking 450k for a 1400 sqft house when our general area makes 50k max

[gemechannel]

Housing recession will end soon, 2024