The higher rates being expedited by the Federal Reserve to tame inflation is affecting housing purchase affordability levels and is now being reflected in recent statistics. The housing market and pricing numbers are always a reflection of supply and demand. From a macro level, the Los Angeles ... » Learn More about San Fernando Valley (Los Angeles) September 2022 Housing Statistics – Mortgage Rate Induced Weakening
Mortgage Rates on a Roller Coaster
There is so much volatility in the financial markets, I can have multiple rate changes through my wholesale mortgage sources a day. Generally to the upside. We know the Federal Reserve was a year late on reversing their very loose financial accommodation of .25% Feds Funds Rates and Quantitative ... » Learn More about Mortgage Rates on a Roller Coaster
San Fernando Valley Housing Market Has A Good Month August 2022
If a picture tells 1000 words, let's check out four charts of the San Fernando Valley housing statistics for August. The actual numbers don't matter as much as the change of direction of the activity. In a nutshell, new listings and inventory dropped after the last few months of active and new ... » Learn More about San Fernando Valley Housing Market Has A Good Month August 2022
Fed Speak Pushing Mortgage Rates Higher
Per the Federal Reserve Chair Jerome Powell a week ago in his speech at the Jackson Hole Economic Forum “The Fed will push rates higher, and for longer. Will not reverse too early” and “Some pain will have to be endured”. Key takeaways: Mortgage rates dropped from their highs mid-June ... » Learn More about Fed Speak Pushing Mortgage Rates Higher
Buyers Chase the Market Up, Sellers Chase the Market Down
Understanding the dynamics of a real estate market is critical. Real estate and economic cycles may have different catalysts, but the ultimate result is the same. Property values go up, and they go down. Over time the values are always higher, but the cycles may take years to cycle through. The ... » Learn More about Buyers Chase the Market Up, Sellers Chase the Market Down