Dave Stevens on Understanding this Housing Market
While this article is targeted for those in the mortgage and housing industries, I felt it is good background for everyone regarding today’s housing market. David Stevens has the ability to explain things with insight in an easily readable fashion. As I read through it I found I agreed and reinforced my thoughts that this is part of the normal cycles.
Article: Dave Stevens on Understanding this Housing Market
- The housing market won’t be like this forever. As quickly as rates dropped in March of 2020, as quickly as they rose in 2022, markets shift.
- Just as the Fed overreacted with stimulus, they are likely overreacting in their quantitative tightening, meaning mortgage rates are certain to come down, likely later next year.
- The chief economist at the MBA forecasts rates in the mid 5% range by end of year next year. Things will get better