Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
We've seen stocks and bonds rebound to start the year.
And, you know, there's this sort of widespread belief that inflation is coming down.
And at the same time, the U.S.
isn't going to kind of go into a deep recession as a result.
And that's kind of bringing back a lot of activity that we had seen go away when rates were rising.
So we're seeing a number of indicators start to kind of bounce from the lows that they have hit recently.
Mortgage applications are up by about a quarter since the end of last year.
Pending home sales, which is a measure of signed real estate contracts, it rose in December recently.
after about six months of declines.
And one real estate brokerage, Redfin, says that the number of people contacting their agents to start the buying process has also kind of bounced from a November low.
So you have all these measures that suggest not that we're kind of returning to the boom times of 2021, but the freefall that we'd seen in the housing market over the last year or so, maybe it has hit some sort of bottom.
The 30-year mortgage rate, it tends to track the 10-year treasury yield.
So that is a benchmark interest rate and kind of moves not in lockstep, but they kind of move together.
But more broadly, the mortgage rate is dependent on where the Federal Reserve is setting its own interest rate.
So because we've seen the central bank raise rates so aggressively, that's driven up all types of borrowing costs, including the 30-year mortgage rate.
So the 30-year mortgage rate has been falling for the last few months, mostly because a series of other benchmark interest rates have been declining.
And they've been doing that because there's really an anticipation that the Federal Reserve has done most of the interest rate increases that it has planned, and that there's really not as far to go in terms of continuing to raise rates.
Absolutely.
Nobody knows really what's going to happen to the housing market.
It's had this little bounce here in January, and it could even continue into the spring, which is the traditional home buying season when you see sales pick up.
Showing 221–240 of 1,467 · page 12 of 74
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