Jeff Taylor In Conversation With TD Ameritrade Network On The Health Of The Mortgage Market
May 26, 2022Jeff Taylor, Founder and Managing Director at Mphasis Digital Risk speaks at length to TDAmeritrade Network host Oliver Renick discussing the health of the mortgage market, in an era of historically high home equity, low inventory and rising interest rates.
Jeff says the housing market seems to be slowing with the sales of existing homes falling for 3 months straight and sales of newly constructed homes dropping 17% last month alone, and 27% from a year ago. While homebuyers are still in bidding wars on 61% of deals, a drop from almost 70% a year ago, making buying conditions a bit more favorable; Fewer sales implies fewer bidding wars driving up bid prices.
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