Stagflation will be public enemy number one. Mortgage rates will flatline from Q1-Q3, dropping substantially in Q4
Good news for 2023. We’re not going from home price boom to bust like the mortgage meltdown days of the Great Recession.Watching the weekly Freddie Mac fixed mortgage rate survey will be as exciting as watching paint dry over the first three quarters of 2023. Rates will largely stay as they are but dip in Q4.
8) Nationally, home purchase sales transactions will decline 25% compared with 2022. Sales plunged 35.4%9) The California Association of Realtors Referral Fee Agreement will be amended, adding the principal’s acknowledgment when a Realtor agrees to pay a referral fee to a real estate broker for the lead. Currently, there is no place for the principal’s acknowledgment even though California law requires disclosure.1) The Freddie Mac 30-year fixed rate will average 3.375%. In fact, it averaged 5.
The Mortgage Bankers Association reported a 0.9% mortgage application increase from the previous week.
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