Orphe Divounguy

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63 appearances 1 recordings 1 series first heard Apr 2023 last heard Apr 2023

Orphe Divounguy’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Navigating the Spring Housing Market · 7 Apr 2023 podcast

However, historically, the 30-year fixed rate tends to follow the yield on the 10-year Treasury.

And these longer term rates depend on current inflation, but also the expectations about the economic outlook and where inflation is going to be.

And let me just give our audience a small example.

If I were to lend you money today, I would expect you to repay with a rate of interest that is sufficiently high to compensate me for whatever inflation is going to be at the time of repayment.

So with inflation,

continuing to increase, lenders are going to expect a higher rate of return.

And so mortgage rates will also increase.

So that's why recent disinflation has also caused mortgage rates to tick down from 7% earlier in the year.

Yeah, they kind of move together.

But anytime you see inflation moving up or down, it's likely the yield on the 10-year treasury and mortgage rates would follow in the same direction.

Yeah, I think the housing market is inching toward a more balanced market.

But markets are local, every city and every neighborhood is going to be very different.

Seeing that competition is still very strong in the most affordable markets and for affordable homes.

When it comes to sellers, the high rates are discouraging existing homeowners from listing their homes.

New listings are 22% lower than they were a year ago.

But those who decide to sell are in a very good financial position.

So right after the global financial crisis, a little over 10 years, I think builders took a big step back.

And right before the pandemic, we saw that people needed more space.

And so you have these factors.

You have this large generation of millennials coming of age, trying to buy homes.

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