The typical mortgaged homebuyer is able to borrow 11% less purchase-assist mortgage money than a year ago due to higher interest rates alone.
Recession 2020
It’s official — the 2020 recession is over. So why isn’t the economy back to normal? firsttuesday sketches out the shape of the housing market beyond the pandemic.
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The 2020 recession was the shortest ever — but its effects continue in the housing market
Latest posts
California home sales volume: A weak seasonal bump for May 2023
California home sales volume in May 2023 was up 22% from the prior month – but down 22% from a year earlier.
Home equity declines since June 2022
California homeowners lost an average of $60,000 in equity over the past year.
The mean price trendline: guidance for when to sell
Sellers who are going to sell within the next five years need to be advised to sell now, not wait.
The “right” interest rate is the market rate — higher than homebuyers think
Waiting for mortgage rates to drop to the “right” level is mental joy riding.
Landlords fight rising vacancy rates
While the supply-and-demand imbalance is heading in the right direction — toward stabilization — the rental market is still a long way from normal.
California home sales volume: Spring housing demand evaporates as price drop pauses
For the second year in a row, California home sales volume peaked early, falling back in April 2023.
Commercial mortgage lending slides in 2023
MLOs betting their income on commercial and multi-family lending in 2023 will be disappointed.
Unlicensed finance company president found guilty of operating mortgage fraud scheme
The president of a mortgage foreclosure consultant company was convicted of 100 felony counts for operating a mortgage fraud scheme in California.
![MLO Recession Side Hustle Guide [e-book]](https://journal.firsttuesday.us/wp-content/uploads/MLO-ebook-title-page-400x250.png)
MLO Recession Side Hustle Guide [e-book]
Learn how mortgage origination providers will survive the ongoing downturn in mortgage originations with this RPI ebook.
Spring price cuts, days-on-market, continue to climb
Seller price cuts and days-on-market continue to escalate across California in Spring 2023.
The liquidated damages provision and the breaching buyer’s deposit when prices decline
Agents need to be aware of the maximum dollar amount the seller is entitled to receive upon a buyer’s breach – especially when home prices are falling.
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