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MortgagePoint June2023

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Page 81 of 83

MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 80 June 2023 F I N A L T H O U G H T S "affordability eroded further" Edward Seiler, MBA's Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America, reports that both the typical borrower monthly payment and median purchase amount are rising due to higher rates and home prices. "surging" Redfin Economics Research Lead Chen Zhao describes the pace at which mortgage rates have been increasing as the U.S. government navigated the June debt ceiling deadline. "continue to muddle" Realtor.com Chief Economist Danielle Hale explains how pending home sales data highlights the ongoing inventory challenges within the existing home market. "pandemic-fueled shift" Redfin Deputy Chief Economist Taylor Marr details the home-price dynamics between popular metros, despite the national pullback in homebuying. "stark regional differences" Craig J. Lazzara, Managing Director at S&P DJI discusses the modest increases in home prices seen a month ago that accelerated in March. FINAL THOUGHTS This month's Final Thoughts quotes examine shifts within the housing market, ranging from home prices and inventory shortages to the ripples of the recent negotiations over raising the government debt ceiling prior to that deadline.

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