Matt Grossman
speaker
182 appearances
3 recordings
1 series
first heard Apr 2022
last heard Jan 2025
Matt Grossman’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
And that's including both the fact that rates are higher and that houses have gotten a lot more expensive.
So if you're the typical home buyer out there, buying a house is probably going to be much more expensive than it was a year ago.
It's probably a little bit too early to say exactly how this is affecting the market.
But if you were somebody who had been saving up for a house, maybe a first-time homebuyer, and the idea of purchasing a home was just kind of on the outer edges of your budget, it could be out of the question right now, depending on, again, what exactly you could afford and what kinds of homes you were looking at.
So we'll see in the coming months as more data come out exactly how this has been affecting the market.
But if you were kind of right on the edge of being able to afford a home, it probably just got a lot tougher early this year.
One of the biggest impacts of rising rates in the housing market has come for people who are looking to refinance their homes.
Rates were very, very low during most of the pandemic, and that led to a huge level of people taking out new mortgages to reduce their monthly payments.
Now that rates are the highest they've been in more than 10 years, that really slowed down very dramatically.
So home sales are still looking pretty strong so far this year, but refinancings are quite a bit lower already than they were last year.
So that's the first place we've seen a dramatic change.
Yeah, so we'll have to see over the next few months where home prices go from here.
So if higher rates do make it harder for some people to afford buying a house, that could cool off demand a little bit, enough to at least put the brakes on
to some extent, on the really fast rise in home prices that we've seen lately.
It's a little bit too soon to say where home prices go from here.
So far, there aren't signs that the really tight housing market has changed dramatically, but we'll see over the rest of this year.
It could well be that the higher rates just kind of draw down the number of people you're competing with to buy a given home.
If it was a little bit marginal for somebody to afford a home before, it probably just got a lot more difficult.
So people might find that they do have less competition when they're searching for homes compared with a few months ago.
JP Morgan and Wells Fargo both said that their mortgage originations were down quite a bit compared with a year ago in the first quarter.
Showing 161–180 of 182 · page 9 of 10
← Previous
Next →