CNBC’s Diana Olick joins ‘The Exchange’ for a housing market news alert about mortgage rates hitting 6.25%. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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Keep dumping mortgage backed securities. The Fed lost their mind in 2021. Time to get housing down 25-30%.
My home mortgage identifies as a student loan….no worries 😂
hype for ratings. QE drove rates artificially down. In "normal" rate environment 5-6% is a dream. Why do this, just ot hype people up. We've got enough of that.
Your house might be a cutie, but it won't be after QT.
I just got locked in for my home 2 weeks ago for 5.6%. I though that was high lol.
Nice video and I thank you for breaking it down!! Despite the economic recession, I'm so happy 😊I have been earning $ 60,000 returns from my $8,000 investment on short period
End the Federal Reserve, reinstate the gold standard, and reform the IRS. Only boomers will disagree with this.
The affects of this wont be felt for 2 months in the housing market. With winter coming and the slowdown about to accelerate before the rates jumped like this, and now the rates jumping this high…we should see an even bigger push to bring prices down and keep houses on the market longer. Even if people take their listings off the market and we have low inventory, that won't stop prices from dropping because like half of Americans if not more right now can't qualify for a mortgage at current prices and of the other half, half of those are watching the economy and are scared to lose their job and won't commit to a mortgage and anyone left is probably thinking "Houses are falling, why buy now if I will be underwater in 2-3 months"
Perfect storm to continue to bring prices down
Treasury cover up on Hunter Biden? Why? Joe said he did nothing wrong! Let's see!
Why aren't you covering this?
good, i hope the bubble pops and all those people abusing poor people unable to buy a home and are forced to rent get what they deserve
Does not matter what rates are, until rents drop, prices will not drop , investors will come in and put in a price floor. Rents are still crazy. Houses cost 30% more to build limiting new supply.
lol. home prices will keep rising with inflation
400k mortgage with 20% down is 680$ what kind of joint are they smoking.. you know that’s has to be bs. where is this place at?? lmk so i can buy 3 house for 680$ a month.. 😂 News nowadays is 10% true and 90% bs.
Wait until next .75 point basis rate hike. Bank on it.
I predict housing prices will drop 30-40% in the next 6 months. Mark my words
Location and rental costs will be very important! Sellers are locked in for 30 years at 2% so they’re pulling their home off the market. The median home price across the country will most likely drop however, home prices will remain high due to other factors!
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Nice comment in the end
That’s not good at all
From bubble up to mountain dew.
House prices aren't down. Houses that used to cost 150k are now 800k and they only lowered the price 10k
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Sky is falling, endless doom and gloom, time to start loading up on stocks in a couple weeks
Let’s go lower
Slows? It's dead, Jim.
That’s hilarious hilarious they don’t have the infrastructure and it will take them 30 years to get it and in California that idiot moron governor said mandatory electric cars by 2030 and 2 days later he told the state that they can’t charge electric cars because of the heat Gavin Newsom is the worst governor in American history bar none so GM and Dodge are over and done with and it’s long overdue
Diana what more excuses are you gonna say? Where is you low inventory now?
home sales is going to almost come to a halt, I am waiting for MBS selloff by fed, and foreclosure numbers to hit at the same time, Stock market and economy to break, perfect storm.
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Tell fox new live me alone blocking my away
A share price is never low or high, it is what it is, what matters is whether it goes up or down from that point, I'm excited about the next bullrun as I'm buying as much as I can now, still words on the media says this crash has as much high-yielding possibilities as a bullrun, sure the risks are greater now, but they can be manage.
6.25% annually when seekers don’t have 5% to buy the house to start with.
Really? I refinanced to 2.x% at the very beginning of the pandemic.
Great. I want it to be 8 %, as I am still single and my expenses are very high including of my girlfriend.
Seems like cnbc commentators are happy about mortgage and energy increases. At least someone's happy.
You idiots…no crash coming people still need and want housing. Will it dip some? Yes but this is a different market than before with more people buying and looking for homes now. The pandemic stopped a lot of builders…
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Here is what people dont seem to understand: For most people it does not matter that the mortgage rates are increasing, because MORE than 90% of Americans have already fixed their mortgage rates for 20-30 years. In other words, do you think someone will sell their houses to buy another one with a new mortgage rate of 3x what they already have? Of course not, so what does that mean –> The supply off properties will become smaller and smaller the next couple of months/years as interest rates increases. The fact that newbuilds have practically stopped as well due to surging raw material prices also reduces supply even further. In other words, the property market will definitely not fall more than 10% at most. Most likely it will go sideways for the most popular cities, and slightly upwards for suburbs/rural areas.
That’s good news for markets as dow moved up 400 plus points
Bidenomics…pay more get less
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Things will level themselves out when …. interest rates are 18%. Good luck people with a mortgage … you bought a lot of risk that no one warned you about …. sell and run for the hills fast !!!!!
Belleair, FL Housing Prices Crater 28% YOY As Demand Dries Up On Toxic Market Conditions Across Gulf Coast Florida
High interest rates, less selling of homes Makes Real Sense and No., 6% for a home is not the New fashionable wall street high normal.
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Mortgage rates over 7 percent next easily