The Highly Rate-Sensitive US Housing Market

Here’s a brand new report from data analytic giant, Black Knight. They reported that rate lock dollar volumes spiked 43% in March 2023 compared to February as mortgage rates fell and seasonality added a boost to activity. Despite this large increase though when looking at the number of purchase rate locks, they still are down 37% year-over-year (from March 2022) and down 12% from March 2019 (pre-pandemic). Therefore, even though it appears home buying demand is on the rise this is nowhere close to the past couple of years and purchase locks are still below pre-COVID levels.

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Compilation of Housing Market Forecast videos:

Article I covered in today’s video:
https://www.blackknightinc.com/black-knights-march-2023-originations-market-monitor/?

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.5% for the current mortgage rates (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 (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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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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