Bob Walters
Bob Walters
bring double economics economy-and-economics five four houses plain rise six three value
We've been on a meteoric rise for three or four years now. Houses can only double in value every five or six years for a while before plain economics bring them back in line.
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These things are tools. Is a chainsaw a good thing or a bad thing? If you're cutting down a stand of trees, it's a good thing. If you accidentally chop off your finger, it's a bad thing.
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It's critically important that people understand and know what their what their credit score is, ... Even if you're not going to buy a home for a year or two, you need to talk to a mortgage banker you trust. They're going to pull what's called a tri-merged credit report.
band fixed mortgage rates stayed
Fixed mortgage rates stayed in a narrow, historically low, band in February.
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The trend of homeowners to exit adjustable rate mortgages into the safety of fixed rates has intensified; those homeowners realize that when those ARMs adjust, they will adjust to rates higher than today's current 30 year fixed rate.
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This is one of the many different tactics businesses are using to get in on the hot housing market. Lenders are grappling with what they can do to keep people coming to the market.
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Affordability will keep prices in check, But for as long as rates stay near historic lows and employment remains strong, I think pricing will stay strong. We probably won't see the double-digit gains that we've seen.
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The bulls basically hoped for a number showing housing is eroding, and they didn't get it. I'm not surprised. As long as jobs are strong -- as long as interest rates are low -- this isn't going to change.
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Demand remains incredibly robust. Housing activity in the rest of the country was very robust, and the destruction in the Gulf states just wasn't enough to move the needle downward.
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Low long-term rates and a strong jobs market will continue to provide substantial support to the housing market.
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Solid fundamentals are expected to support home sales in coming months.
hate housing last month people triple
I hate when people try to read too much into a monthly number. Last month did not portend that housing was going to triple and this month does not portend that housing is going to collapse.
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News from the Fed that they may continue raising short-term rates surprised the market, causing short-term rates to exceed long-term rates.
basically beginning rate removal
The removal of accommodative basically is signaling the beginning of the end of rate hikes.