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Wondering about where mortgage rates are headed? Check out our latest Two-Month Mortgage Rate Forecast.

HSH in the news - 2023

January 13, 2023: "Buying a Home in 2023" a National Association of Realtors radio program and podcast hosted by Stephen Gasque included Keith Gumbinger, HSH.com's VP as a featured guest, where he discussed mortgage options, conditions and strategies for financing a home this year.

January 6, 2023: "Housing market: More and more home sellers dangle incentives to get buyers, study finds", a Yahoo Finance review of home selling conditions by Gabriella Cruz-Martinez featued a few quotes from Keith Gumbinger, HSH.com's vice president:

Overall, concessions were most commonly offered to buyers in San Diego with 73% of sellers giving at least one buyer incentive, followed by Phoenix (62.9%), Portland, OR (61.6%) Las Vegas (61.3%), and Denver (58.45%).
"There’s an opportunistic type of buying for some borrowers out there, homebuyer interest should continue to pick up the closer we get to the spring," Keith Gumbinger, vice president of HSH.com, told Yahoo Finance. "We’ll see if mortgage rate levels change or prices soften. One thing’s for sure - homebuyers are adaptable."
According to Danielle Hale, chief economist for Realtor.com, the share of buyer concessions has been "growing since late summer 2022," around the time the home prices peaked. Since then, home sellers have either had to adjust their pricing expectations or offer incentives to close a deal.
Gumbinger noted that housing market activity may pick up in spring, but economic headwinds will likely push builders to offer "price concessions... to support new construction in 2023."

January 5, 2023: "Mortgage rates tick up as the year kicks off", a Yahoo Finance look at mortgage markets at the beginning of 2023 by Gabriella Cruz-Martinez featured some commentary from HSH.com VP Keith Gumbinger:

Even if rates come down following a recession this year, it's unlikely that will ease buyer budgets.
"If things economically fall off a cliff at some point and mortgage rates fall a little more say nearing 5.5%, that’s not really all that cheap relative to what most potential homebuyers expect," Keith Gumbinger, vice president of HSH.com, told Yahoo Finance. And "if you’re looking for a lateral move, or a bigger house, you’re facing both higher interest rates and still-high home prices."
For buyers still in the market, the triple whammy of inflation, climbing interest rates and home prices registered over the past year have been an obstacle many have yet to recover from, experts say.
"We had record low mortgage rates just a little over a year ago," Gumbinger said. "For most potential homebuyers today, the 7% run we saw at the end of last year is the first time they’ve ever seen rates that high."

Back to HSH.com in the News — 2022

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