People build their credit so that they can get approved for loans with lower rates and fees.

This rule change eliminates that incentive and defeats one of the main reasons why credit scores even exist.

#mortgage #mortgagerates #mortgagefees #housing #credit #creditscores

Mortgage Rates Historically Decline in Recessions || Manpreet Nagi

#housingmarket #recession #mortgagerates #72sold #72soldagent #72soldcommercial #areaexpert #goldenrulerealty
#sellyourhousein72hours #toprealtor #realestateagent #realty #realtors #realtorlife

“Once mortgage rates peak, home sales volume and price declines will stabilize. That all depends on what the Fed chooses to do in the coming months and whether inflation begins to decline.” - @odetak

https://blog.firstam.com/economics/what-to-expect-from-the-2023-housing-market

#RealEstate #MortgageRates #HomePrices #FirstAmerican
@realestate@a.gup.pe @realestate@chirp.social

Millions of homeowners set to face mortgage rise with Bank of England predicted to hike interest rates further to 3.5%.
The decision would raise interest rates to its highest for 14 years.
#uk #mortgagerates
https://www.gbnews.uk/money/millions-of-homeowners-set-to-face-mortgage-rise-with-bank-of-england-predicted-to-hike-interest-rates-further-to-35/405082

“It is typical for rising interest rates to cool the housing market. But the speed of this year’s mortgage-rate increase has created a sense of whiplash among buyers and sellers, and that makes it difficult to predict how long the housing slump will last and how bad it will get.”

https://www.wsj.com/articles/whats-going-on-with-the-housing-market-11670430769

#RealEstate #Housing #MortgageRates #TheWallStreetJournal

“We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. High homeowner equity and a resilient job market will stave off a wave of foreclosures.”

https://www.redfin.com/news/housing-market-predictions-2023/

#RealEstate #MortgageRates #HomePrices #Redfin

Just to introduce myself, I’m a qualified mortgage and protection adviser in the UK. I handle all types of mortgages such as self-employed, residential, landlords etc. drop me a line if you want any help 😀👍 #mortgage #mortgageadviser #mortgagerates