Seattle Real Estate Market Watch – 9/19/2022

Here is my breakdown of the market this past week of 9/19/2022!

A lot of changes are happening in the markets right now, so I wanted to go over the current state of the real estate market, fed rates, and the stock market. I hope this video can give some clarity on the current state of the markets!

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Other links you might be interested in:

Seattle Real Estate Market Update September 2022 -
Average Down Payment on a House in 2022 | Debunking the 20% Myth

[kenngo]

Viewers should know that rates are higher for the long-term not short-term. The Feds been crystal clear that they intent to take the Fed rate from current 3.25% to about 4.5%-4.75% meaning that 30-year fix will be closer to 8%. 8% will be the base rate for this year and next until inflation is at target 2%. A borrower who took out a $500, 000 mortgage at a 3.2% rate would be on the hook for a $2, 162 monthly principal and interest payment over the course of the 30-year loan. At a 6.8% rate, that monthly payment would be $3, 260. At a 8% rate, that monthly payment would be $3, 700. Even National Association of Home Builder Chief Economist Robert Dietz said "“Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession." Prices will crash.

[snappycut]

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