Data released by Federal Reserve Bank of New York in their Quarterly Report on household Debt and Credit shows that consumers added $228 billion in debt from Q2 2023 to Q2 2023 to reach $17.29 trillion. The debt burden increased by 4.8% or $786 billion from Q3 2022 to Q3 2023.
Consumer Debt is Growing Read More »
At 7.79% in October 2023, the 30-year fixed mortgage rate reached its highest level since 2001 according to Freddie Mac data, but since then it has been experiencing a downward trend. The rate was at 6.66% on Jan 11th, 2024, 33 basis points higher than its level a year ago. However, mortgage rates have been at the 6.6% level for the last four weeks as economic data continues to show a strong economy.
Will Mortgage Rates Fall Enough to Unlock the Frozen Housing Supply? Read More »
As we enter the new year, anticipation surrounds the housing market’s trajectory. Will it revert to its pre-pandemic state? Is an era of more affordable homes on the horizon? Are we bracing for a ‘silver tsunami,’ as baby boomers downsize and flood the market with homes? In short, the answer is no.
New Year, Old Housing Market Read More »
Several studies have examined the issue of racial bias in Automated Valuation Models (AVMs) by analyzing various measurements of AVM valuation errors in relation to the sales price. One such study conducted by the Urban Institute utilized three measurements to determine the difference between the sales prices and AVM values:
Testing for Racial Bias in AVM Valuations Read More »
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