S&P500 closes worst first half of year since 1970, at -21%.
More downside to come.
Yet there are some folk who don’t agree that house prices are inversely proportional to interest rates.
Yes, I've seen that said by many in power too. It's an easy thing to say for decades when the theory hasn't been properly tested...but its about to be...even just for say 6 months
longer term / generational mortgages
I still think there will be a reversal in the Fed after summer so picking off a few things on the way down.....
Definitely missed the peak - take a look at the 30yr mortgage rate chart. Looking at my (expensive) town it seems there are still sellers in denial, determined to stay on the market through the summer chasing prices down. In this town if it doesn't sell within 2 weeks it's overpriced.
Source https://themortgagereports.com/61853/30-year-mortgage-rates-chart
Because inflation will fall?
Never say never ...nothing's certain the next few years.
Why do you think the Fed will reverse after the summer?
Why do you think the Fed will reverse after the summer?
You can already see energy prices, oil in particular, falling. That's the sort of shock to the demand side of the equation they wanted... They will use anything they can to soften their stance on the rate of future interest rates rises and maybe a slight reversal.