Recent housing market data points to a renewable sense of determination against any potential mortgage industry “ghost stories”. Real estate listings have been consistent despite rising mortgage rates, which have caused certain volatility in the past. Homebuyers and sellers have heeded the calls for a flourishing, resilient housing market, refusing to shy away from the current mortgage rates of 8%.
The housing resilience is undoubtedly due to robust economic indicators, wage and job growth, as well as a renewed consumer confidence in real estate. Despite the new listings data suggesting strong market activity, real estate activity remains in closely monitored check as firm protections have been put in place. Values of home appraisals are generally considered in making lending decisions, while income counts and credit scores remain important.
Most Important Elements:
• Robust economic indicators: wage and job growth, consumer confidence in real estate
• Current mortgage rates: 8%
• New listings data: resilient, strong market activity
• Firm protections: Values of home appraisals, income counts and credit scores
You can read this full article at: https://www.housingwire.com/articles/new-listings-data-unfazed-by-8-mortgage-rates/(subscription required)
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