Börsen Stockholm och New York 8 april 2024
The 30-year mortgage edged up 10 basis points on Monday afternoon to 7.11%
The median sale price of a home as of March 31 was $376,223.
That’s up nearly 5% from the same period last year.
Prospective home buyers are giving up hope that interest rates will come down soon.
They are changing their life plans accordingly.
A median-income household could afford to buy a house for no more than $416,000 in March, assuming a 20% down payment and a mortgage at going rates whose payments take up a third of pretax income.
Three years earlier, that household could afford a price of up to $561,000, according to First American Financial.
Most of the house shoppers in the market are buying because they need to, said David Schlichter, a real-estate broker in Denver.
He said he is busy finding new homes for clients looking to move after new babies, new jobs or divorces. People in those situations can only wait so long for rates to fall.
“The longer that they stay at this level, the more life events will happen that will cause people to move by necessity,”
Wall Street Journal 11 April 2024
Börsen Stockholm och New York 5 april 2024
https://englundmacro.blogspot.com/2024/04/borsen-stockholm-och-new-york-5-april.html
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