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The Untold Secret To Mastering HOUSING DEMAND ISN'T HIGHER !!

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The Untold Secret To Mastering HOUSING DEMAND ISN'T HIGHER !!

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home value appreciation is now back to
positive at the very least and that
could be due in part because of low
mortgage rates keeping it attractive for
buyers .

yeah the rub is though that low
mortgage rates mean that the monthly
payment is much more affordable it does
nothing to that downpayment
affordability so in other words instead
of the the pricing correcting to a level
at which more people could afford it the
low rates are keeping that pricing high
and maybe keeping people locked out it's
fascinating because that suggests
there's a structural impediment you know
to more people buying homes yeah I mean
there is some research that kind of
shows that it's the drop in the rate
that really matters already gets people
re interested in the market.

this most recent drop I would expect to
actually start doing that you know this
slowdown I think we'll start moderate
and because we will see buyers returning
and considering it but that again I
think you're a little bit right it's
there's a balancing act here where
monthly affordability is definitely
something I have my eyes on right but
buyers really to be doing this right in
a market where things are really slowing
down you got to be paying attention to
to the overall price level and that down
payment right you got to make sure that
you'll be in there for a long period of
time to make it worth it for you right
if home values continue to be much much
much more modest going forward yeah and
you can't just come up with you know the
dough for a twenty twenty percent down.

payment overnight so the average 30-year
fixed mortgage rate has fallen to
something like three point seven five
percent from not a half percent last
year I mean that is a huge move even in
relative terms you know I do people just
shrug off these rates because they just
go at it slow enough I don't really care
if it goes down another half a
percentage point no I think it matters a
great deal it just depends on kind of
who you are and and what you're looking
at here when you think about anyone
who's interested in refi that was a
really big move right that was the
opportunity where you said to yourself
well that's pretty inexpensive debt yeah
and so if you had any other you know
expenses or projects you wanted to
tackle or any other kind of loan that
you wanted to pay off that could
actually be a good strategy right pay
off you know high interest college loans
say if you went to grad school and
convert that over to a much lower
interest cash out refinance.

I mean that's a very appealing you know
strategy or process for that that low
rates get you the rub again you know if
we're talking about the typical home
buyer is that down payment as well so
yeah that's where we're haven't seen
quite the return but I think we are and
and we will and that'll be a part of the
story and the picture is that home
buying at low interest rates you lock in
that thirty rates still attractive right
it's just a matter of finding that right
match between you and having already
been the kind of buyer who saved up
enough for the Delray

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