Nicole Friedman

speaker

798 appearances 16 recordings 1 series first heard Aug 2017 last heard Dec 2024

Nicole Friedman’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Some Homebuyers Turning to Buydowns for Lower Mortgage Rates · 20 Dec 2022 podcast

You might have to paint or do repairs in the first couple of years.

And so those first years of homeownership can be unusually expensive for people.

And there's a lot of other costs involved.

And so this can be a way to just smooth that transition for a buyer to make it a little bit more appealing to move into a place knowing for that first one or two or three years, they'll be able to

have lower payments, maybe build their savings back up, maybe invest in some repairs or buy some furnishings for the home.

And even if they expect the payments to eventually go to a higher rate, they will be able to maybe stomach more of those upfront costs a little more easily if they have a temporarily lower mortgage payment.

Some experts we spoke to, you know, do see red flags in the larger use of temporary buy downs right now that they do say, you know, more borrowers kind of taking on mortgages with the expectation that the payment's going to be lower up front and they can refinance or maybe something will change the next couple of years.

And maybe they're not really fully planning or expecting to have to pay that higher amount eventually.

And that that does bring more risks that these people will eventually not be able to make their payments.

WSJ Your Money Briefing · Higher Mortgage Rates Vexing Homeowners Who Want to Sell · 23 Sep 2022 podcast

Many, many households either bought a home in the last couple of years at very low rates or they refinanced their mortgage at very low rates.

And for those households, it's a lot harder to imagine selling their home given how much more they would expect to have to pay for that new home with higher mortgage rates and higher home prices.

Thank you for having me.

So higher mortgage rates are having a huge impact on the housing market.

The market really boomed in 2020 and 2021 as the pandemic caused more people to work from home, go to school from home.

A lot of people decided they needed more space.

They didn't need to be as close to their offices.

And mortgage rates were the lowest they'd ever been.

So a lot of buyers rushed into the market, took advantage of the opportunity to move.

And now we're really seeing an abrupt slowdown.

as rates have basically doubled in the last few months, really since the start of the year.

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