BiggerPockets | What Happens to the Housing Market if Mortgage Rates Stay High? @biggerpockets | Uploaded June 2024 | Updated October 2024, 6 hours ago.
Episode #979
Episode Show Notes: link.chtbl.com/BPRE
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Why Mortgage Rates AREN’T Falling:
biggerpockets.com/blog/real-estate-915?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Dave and Our Panel of Expert Guests:
Dave Meyer: biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry Washington: biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
James Dainard: biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none
Kathy Fettke: biggerpockets.com/users/kfettke?utm_source=youtube&utm_medium=description&utm_campaign=none
Mortgage rates were supposed to be going down by now, but what happened? Even in late 2023, many housing market experts predicted that we’d be seeing high to mid six percent mortgage rates at this point and hovering around the high five percent rate mark by the end of the year, but the Fed isn’t showing any sign of lowering rates soon. Some experts even believe rates could go UP again this year as the job market stays hot and the economy sees unprecedented strength. This begs the question: What IF mortgage rates remain high?
It’s a reality many of us don’t want to see, but 2024 could end with minor, if any, rate cuts, keeping monthly mortgage payments high and affordability low. So, what should an investor do in this situation? Sit on the sidelines? Invest in a different asset class? Pray to Jerome Powell? While that last option may be worthwhile, top real estate investors are saying that NOW is the time to buy BEFORE rates fall. What do we mean?
We’ve got the entire expert investor panel here to give their take on what investors should do IF rates don’t fall. From house flipping to long-term buy and hold rentals, our nationwide panel of investors shares exactly what they’re doing to make money even with high interest rates. Plus, we’ll give our predictions on when rates could fall, what will happen to housing inventory, what young people should do NOW to get their first house, and why investors need to “reset” if they want to thrive in this high rate housing market.
00:00 Intro
04:45 When Could Mortgage Rates Fall?
13:48 Inventory is Getting Gobbled Up
19:56 Can Young People Make It?
24:19 Investors Must "Reset"
Episode #979
Episode Show Notes: link.chtbl.com/BPRE
Grab Dave’s Newest Book, “Start with Strategy”:
store.biggerpockets.com/products/start-with-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none
Join BiggerPockets for FREE 👇
biggerpockets.com/signup?utm_source=owned_media
Find Investor-Friendly Lenders:
biggerpockets.com/findlenders
See Dave, Henry, James, and Kathy at BPCON2024 in Cancun!
biggerpockets.com/events?utm_source=youtube&utm_medium=description&utm_campaign=none
Why Mortgage Rates AREN’T Falling:
biggerpockets.com/blog/real-estate-915?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Dave and Our Panel of Expert Guests:
Dave Meyer: biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry Washington: biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
James Dainard: biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none
Kathy Fettke: biggerpockets.com/users/kfettke?utm_source=youtube&utm_medium=description&utm_campaign=none
Mortgage rates were supposed to be going down by now, but what happened? Even in late 2023, many housing market experts predicted that we’d be seeing high to mid six percent mortgage rates at this point and hovering around the high five percent rate mark by the end of the year, but the Fed isn’t showing any sign of lowering rates soon. Some experts even believe rates could go UP again this year as the job market stays hot and the economy sees unprecedented strength. This begs the question: What IF mortgage rates remain high?
It’s a reality many of us don’t want to see, but 2024 could end with minor, if any, rate cuts, keeping monthly mortgage payments high and affordability low. So, what should an investor do in this situation? Sit on the sidelines? Invest in a different asset class? Pray to Jerome Powell? While that last option may be worthwhile, top real estate investors are saying that NOW is the time to buy BEFORE rates fall. What do we mean?
We’ve got the entire expert investor panel here to give their take on what investors should do IF rates don’t fall. From house flipping to long-term buy and hold rentals, our nationwide panel of investors shares exactly what they’re doing to make money even with high interest rates. Plus, we’ll give our predictions on when rates could fall, what will happen to housing inventory, what young people should do NOW to get their first house, and why investors need to “reset” if they want to thrive in this high rate housing market.
00:00 Intro
04:45 When Could Mortgage Rates Fall?
13:48 Inventory is Getting Gobbled Up
19:56 Can Young People Make It?
24:19 Investors Must "Reset"
