Some in the real estate industry predict that the hot housing market will lose some steam
Channel: Nadlan - Real Estate Investors - השקעות נדלן ארהב
Date: 2022-04-21

Watch for "overvalued" housing markets as house price growth begins to slow, says CoreLogic
Last week, the average fixed-rate mortgage for 30 years reached 4.67% - up from 3.11% in December. This is a bigger issue than it may seem at first. If a borrower took out a $ 400,000 mortgage at 3.11%, he would have owed $ 1,710 a month during the 30-year loan. At a 4.67% mortgage rate, this monthly payment rises to $ 2,067.

Not only are mortgage rates higher for homebuyers, it also means that some borrowers - who have to meet a strict debt-to-income ratio of lenders - will lose their mortgage eligibility.

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