February 2022

The Average Mortgage Size Just Hit a New Record

Homebuyers are experiencing with one of the most expensive housing markets in history, necessitating larger mortgages than ever before. Despite the fact that mortgage demand is dwindling owing to rising interest rates, the average purchase loan application size just established a new high. According to the Mortgage Bankers Association's seasonally adjusted index, mortgage applications for house...

Rising lumber price adds $19,000 to the cost of a new home

Since the beginning of the pandemic, the price of lumber has been on a roller coaster, and it is now mounting a steep incline once more. Lumber prices began rising again in December after falling dramatically from a record high in May of last year. According to Random Lengths, they are now around 22% lower than their high, but still roughly three times their typical pre-pandemic price. This raises...

Inflation hits 40-year high, surges 7.5% on an annual basis, is Real Estate a hedge?

Over the last year, consumer prices have risen faster than anticipated, signaling a worsened picture for inflation and confirming the likelihood of significant interest rate hikes this year. The Labor Department said Thursday that the consumer price index for January, which monitors the pricing of dozens of ordinary consumer goods, increased 7.5 percent from a year ago. The closely watched inflation...

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