Laura Kusisto

speaker

689 appearances 14 recordings 1 series first heard Jul 2017 last heard Nov 2023

Laura Kusisto’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Lenders Relaxing Credit Rules as Home Prices Rise · 11 Apr 2018 podcast

So that's been one example of where lenders are trying to make some adjustments. voice-verified

Maybe if you're renting a room out on Airbnb, allowing people to be able to count that income, helping people pay down their student loans. voice-verified

So trying to address all those people who have kind of unique situations but might be otherwise good borrowers. voice-verified

Yeah, so for the first time, we're seeing some downward pressure on demand this spring selling season. voice-verified

We're seeing home prices rising about twice the rate of incomes. voice-verified

And at the same time, for the first time, we're seeing a real meaningful rise in mortgage rates. voice-verified

And then I think there's a third factor that's a little harder to measure but is palpable when I talk to people, which is people are just weary of this market where there are hardly any homes in the market. voice-verified

Even if you're in a Midwestern town, you're competing in bidding wars and against cash buyers. voice-verified

And there's just a real kind of weariness creeping into the market. voice-verified

But one of the things I'm worried about is that is exactly the point where you see lenders start to say, oh, our volume is down a little bit. voice-verified

Maybe we should just relax standards a little bit and get people back into the market. voice-verified

So we want to be really careful about that impulse. voice-verified

I've been wrong before. voice-verified

But I don't think we're going to return to those historic lows again. voice-verified

It seems like somewhat higher mortgage rates are here to stay. voice-verified

Of course, we're still at about 4.4% for a 30-year mortgage. voice-verified

That's fantastic. voice-verified

If you lived through the 80s, you would delight in having that. voice-verified

It is unimaginable to me, but that is part of the problem. voice-verified

It is unimaginable to a lot of people. voice-verified

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