Mid-Week Roundup: Insights into Real Estate and Market Industry Trends 12/6/23

Why stock market FOMO may set stage for early December seasonal weakness – MarketWatch

The article discusses how the stock market’s “fear of missing out” (FOMO) rally may pause and what will decide its fate. Bulls see room for stocks to continue their rise as institutional investors and hedge funds play catch up after cutting or shorting stocks in last year’s tech wreck. Bears contend a still-hot labor market and other factors will force interest rates even higher than investors and the Fed expect, repeating the dynamic that dictated market action in 2022.

Takeaways:

• Financial market participants this past week moved closer to pricing in what the Federal Reserve has been telling them: the fed-funds rate will peak above 5% and won’t be cut in 2023.
• The jump in short term yields was a message that appeared to rattle stock market investors, leaving the S&P 500 with its worst weekly performance of 2023.

Condo originations streamlined through Project Advisor tool: Freddie Mac – HousingWire

The article discusses how Freddie Mac’s Condo Project Advisor tool is helping streamline condo originations. The tool lets you request unit-level exceptions for existing condominium projects early in the loan origination process, so you can close more condominium loans. Effective October 24, 2022, Project Assessment Requests (PARs) can help you focus condo project reviews and drive workflow to supercharge your condo loan origination.

Takeaways:

• Condo Project Advisor lets you request unit-level exceptions for existing condominium projects early in the loan origination process, so you can close more condominium loans.
• Effective October 24, 2022, Project Assessment Requests (PARs) can help you focus condo project reviews and drive workflow to supercharge your condo loan origination.

10 housing markets predicted to grow the most in 2024 – National Mortgage News

In this article from National Mortgage News, it discusses how California, Midwest and Northeast cities are poised to see the greatest combined rise in sales and home values, but some affordability relief will also emerge nationwide in the next 12 months, Realtor.com said. The top 10 cities where home prices could grow the most in 2024 are Rio Grande City, Knoxville, San Diego, New York, San Francisco, San Jose, Los Angeles, Boston, Miami, and Seattle.

Takeaways:

• California, Midwest and Northeast cities are poised to see the greatest combined rise in sales and home values.
• The top 10 cities where home prices could grow the most in 2024 are Rio Grande City, Knoxville, San Diego, New York, San Francisco, San Jose, Los Angeles, Boston, Miami, and Seattle.

Mortgage Refinance Demand Jumps as Rates Fall – CNBC

In a recent CNBC article, I came across some exciting news for homeowners and potential buyers. The demand for mortgage refinancing has experienced a significant surge, and the driving force behind this trend is the recent drop in interest rates. As rates continue to fall, many homeowners are seizing the opportunity to refinance their mortgages, aiming to secure lower monthly payments and overall reduced interest costs.

Takeaways:

• The spike in mortgage refinance demand underscores the sensitivity of the real estate market to interest rate fluctuations.
• Homeowners should act swiftly to take advantage of the favorable rates, potentially saving substantial amounts over the life of their mortgages.

I hope you found this post informative and helpful. Thank you for reading!