🏡 Rate Check Roulette: A Housing Market Snapshot (with Attitude)
• With a 267bps spread between new and existing mortgage rates, refinancing today feels less like financial hygiene and more like elective surgery — no anesthesia, no guarantee you’ll wake up richer.
• Goldman expects rates to slide to 6.5% by year’s end. That’s not a forecast, that’s a slow crawl—real estate’s version of a Sunday drive in neutral.
• Housing affordability ticked up year-over-year but slipped month-over-month. It’s the kind of improvement that makes economists nod solemnly and buyers still cry at open houses.
• Existing home sales are expected to rebound ‘modestly’ over the next few years. In Fed-speak, that’s somewhere between watching paint dry and watching it chip off in real time.
• The market isn’t frozen—it’s slow-churn vanilla. Technically moving, just not moving anyone emotionally.
• At this pace, first-time buyers might as well include retirement plans and crypto wallets from the Bank of Mom & Dad in their mortgage application packet—because earning power alone isn’t closing anything.
#home #realtor #realestate #housing #MortgageRates #Fed #QE #MBS #CMBS
https://x.com/mohossain/status/1945944406680342938?s=46
