Today in Mortgages we dive into whether we may be seeing lower home prices this year. Fox business, states that home prices are being “slashed” in today’s article. The article finds that prices are slowing due to more competition amongst sellers. There is still record low inventory even if prices are softening. Fannie Mae believes interest rates will remain at or above 7% this year, so home prices are going to have to keep coming down.

Some key points, that effect inflation coming down:

– PCE staying low
– Jobs opening at three year low
– Home price going down

Even though times are weird in the real estate market, American still want to buy homes!

Tune in to this episode to gain a deeper understanding of the current market dynamics and discover how you can better support your clients in achieving their homeownership dreams. Whether you’re a seasoned professional or new to the industry, this discussion offers valuable insights to help you navigate today’s real estate landscape. _________ To learn more, read today’s article: https://www.foxbusiness.com/economy/us-house-sellers-cutting-prices-first-time-over-year

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.