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Interest Rate Hikes Pump Brakes On Fall Market

This Post Has 14 Comments
  1. From the first 8:45 video:

    When Landlord Default! – Mortgagee Sales
    Premiered 23 hours ago
    With rising interest rates, some landlords are defaulting on their mortgages.

    The second 9:29 video:

    People Aren’t Buying Homes!! | How To Sell Your House
    Matt The Mortgage Guy
    Sep 27, 2022 Are you a selling agent who’s having trouble getting traction on their listings? If so, this video is for you. We all know the housing market is in a difficult spot. Rising mortgage interest rates are making monthly mortgage payments difficult for some prospective buyers, and this lower demand is directly impacting current listings. Fortunately, there are some creative ways that we can get some traction on your listings without asking the seller to significantly lower their asking price and without making the home buying process a hassle for those exploring the real estate market. In this video, I’m going to explain the reasoning behind low movement on homes for sale and propose a solution that your clients can take that benefits them and prospective buyers.

    Intro (0:00)
    Why Aren’t Homes Selling Right Now? (1:42)
    What are Buyers Looking For in a Listing?
    Advice to Get Your Listing to Sell Without Lowering List Price (6:14)
    Questions? Get in Touch! (8:25)

    The third 2:33 video:

    Dallas Housing Market Update – September 27, 2022
    Living in Northeast Dallas
    Sep 27, 2022 In this video Darrell provides an update on the Dallas/Fort Worth Housing Market for the week of September 27, 2022.

    The fourth 7:11 video:

    Is now really a good time to sell?
    Sep 27, 2022 🔥 Toronto Real Estate Thoughts of the week: Is now really a good time to sell?

    The last 13:48 video:

    Interest Rate Hikes Pump Breaks On Fall Market In Brampton, Mississauga Real Estate – Sept 21
    Team Sessa Real Estate
    Sep 28, 2022

    Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate Market Report for the week of Sept 15 – Sept 21, 2022.

  2. Housing bubble
    Newsweek|15 hours ago
    All the latest breaking news on Housing bubble. Browse Newsweek archives of photos, videos and articles on Housing bubble.

  3. Major brands blast Twitter for placing their ads next to tweets soliciting child pornography

    Like all social media platforms, Twitter bans depictions of child sexual exploitation, which are illegal in most countries. But it permits adult content generally and is home to a thriving exchange of pornographic imagery, which comprises about 13 per cent of all content on Twitter, according to an internal company document seen by Reuters.

  4. After some of the most dramatic declines in global financial markets since the Federal Reserve began lifting borrowing costs six months ago, authorities in Asia are intensifying efforts to prevent a downward spiral.

    South Korea joined a growing list of interventions on Wednesday, with the central bank saying it will buy as much as $2.1 billion worth of sovereign debt. In Taiwan, officials have floated currency controls and signaled a readiness to ban stock short sales. China has instructed some funds to refrain from large share sales and told banks to ensure the yuan’s daily fixing is being “respected” by market players.

    Governments all over the world are grappling with the fallout from the Fed’s most aggressive trajectory of interest-rate hikes since the 1980s, with the rapid surge in the dollar yanking capital away from virtually everything else. Attempts to control markets in Asia — a region haunted by memories of the 1997 financial crisis — are so far yielding few convincing results.

    “Intervention will only help to slow the decline in Asian assets, rather than stem it,” said Mitul Kotecha, head of emerging markets strategy at TD Securities in Singapore. “Higher US rates, a strong dollar and relatively low real rates across the region suggest pressure will persist in the weeks ahead.”

  5. Washington Post torched for touting ‘7 ways recession could be good for you’: ‘Embarrassing propaganda’

    The piece, located in The Washington Post’s “Personal Finance” section, gave readers seven reasons they could be financially optimistic these days despite the recession and 40-year-high inflation. Columnist Michelle Singletary wrote, “as bad as things are — rising interest rates, high inflation, stock market tumbling — the economy hasn’t imploded as it did during the Great Depression.”

    She added, “I have to say this because, as Roosevelt pointed out, fear itself can lead to actions that worsen your finances. While many people are hurting, there may be ways to cushion the downside.”

    Club For Growth government affairs VP Scott Parkinson reminded his followers how the media used to deny there was a recession this past summer. He tweeted, “First the media worked with the Biden White House to try to redefine what constitutes a #recession. Now Michelle Singletary writes in WaPo 7 ways a recession could be good for your financially.” He added, “I’m not laughing.”

    The Western Journal’s Michael Austin found it amusing, tweeting, “L O L @ the rich white libs who read the Post. While YOU might come out OK, others won’t…”

    American Greatness senior fellow Ned Ryun wrote, “Corporate propagandists be like, You’ll have nothing and be happy! Ain’t life grand??!!”

    Donald Trump Jr. asked, “At this point could the press be anything other than the enemy of the people?”

    Commentator John Cardillo rebuked the Post, writing, “’Shame’ is a word absent from @washingtonpost’s lexicon.”

    Conservative influencer Logan Hall tweeted, “from ‘we’re not in a recession’ to ‘maybe we’re in a recession’ to ‘here’s why recessions are good’ full circle.”

  6. On Sunday at the L’Attitude conference, an event for Latino business professionals in San Diego, Obama said, “Right now, the biggest fuel behind the Republican agenda is related to immigration and the fear that somehow America’s character is going to be changed if, people of darker shades, there are too many of them here,” according to The San Diego Union-Tribune.

    Huh? Has Obama forgotten that when he and his former Vice President Joe Biden occupied the White House, their administration deported millions of illegal immigrants, earning him the moniker “deporter-in-chief”?

    “For a Democrat, Obama took a fairly tough stance, particularly early in his presidency, toward undocumented immigrants,” Newsweek said in 2017. “From 2009 to 2016, his administration oversaw the forcible removal of more than 3 million undocumented immigrants — most of whom were sent back to Mexico. Neither Bill Clinton, nor George W. Bush, Obama’s two predecessors, came close in reaching his tally over their two terms.”

    And Obama’s “deporter-in-chief” nickname didn’t come from a right-wing group; it came from immigration activists who were upset the Obama-Biden administration deported hundreds of thousands of undocumented immigrants who didn’t have criminal records.

    It’s also not “racist” for any American to be against Mexican drug cartels who’ve murdered over 100,000 Americans with fentanyl streaming into our communities via the porous southern border. And no, it’s not wrong to oppose the despicable human trafficking taking place or staggering influx of an estimated 267,000 unaccompanied minors who’ve entered the US so far on Biden’s watch.

    Where are these vulnerable children going? Who is caring for them? And how many will be abused, sex-trafficked or killed?

    So, contrary to what Obama says, being concerned about these terrifying real-world scenarios isn’t “racist”; it’s compassionate to not want any human to suffer such horrors.

    Bottom line: Border security isn’t “racist,” nor is following US Immigration laws. What’s wrong is those who play the race card and sow divisions to advance a political agenda.

  7. Mortgage banker Summit Funding to lay off 72 Sacramento employees before Thanksgiving, as market slows
    The Business Journals|12 hours ago
    Mortgage banker Summit Funding Inc. disclosed that it’s laying off 72 people at its Sacramento offices before Thanksgiving.

  8. “I’ve never believed in defunding our police department,” Newton Mayor Ruthanne Fuller said. At the same time, “I’ve known how important it is to support 21st-century community policing here in Newton,” she said.

    Newton’s current $24.8 million police budget is the highest in city history. In progressive-minded Cambridge, the $73.5 million police budget approved this summer represents a 20 percent increase since the 2020 fiscal year.

    “Every time I’ve moved to not increase the budget, I didn’t even propose a real cut, just keeping it flat, and the vote fails every time eight to one,” said Cambridge City Councilor Quinton Zondervan, a democratic socialist. “We’re not as left wing as we think we are, apparently.”

  9. Atlanta loan officers face layoffs as high interest rates pummel mortgage industry
    The Business Journals|13 hours ago
    A mortgage loan officer and partner in his own lending branch, Afrasiabi was busier than ever last year. The good times extended into early 2022, but things changed quickly. By June, Afrasiabi’s CostPro Lending was writing a quarter of the mortgages that it had at the beginning of the year.

    1. Divvy Homes cut staff amid rising mortgage rates
      The Real Deal|18 hours ago
      San Francisco-based proptech startup Divvy Homes cut 12 percent of its staff amid inflation and rising mortgage rates.
      DocuSign Plans Staff Reductions—Here Are The Major U.S. Layoffs This Year
      Forbes on|14 hours ago
      Forbes is tracking the biggest layoffs in the U.S. this year as companies react to fears of a looming recession.
      Non-QM lender Angel Oak Mortgage Solutions cuts 20% of staff
      HousingWire|12 hours ago
      Angel Oak Mortgage Solutions is the latest player in the space to cut a sizable chunk of its workforce amidst widespread market volatility.

  10. I am gonna guess Hurricane Ian is not gonna help the Florida housing market.

    In fact, it may be looked as the “event” in which pushed it over a cliff.

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