According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume dropped 5.6% last week from the previous week. The average 30-year mortgage rate continues to float above 7%, disincentivizing potential homebuyers.
Taylor Morrison (TMHC) CEO Sheryl Palmer joins Yahoo Finance to discuss how the housing market has dealt with the volatile rates.
Palmer suggests consumer tolerance is growing: “The consumers have come a long way in the last year, 18 months, when rates were flirting at the 7%. The difference from where we are today to where we were then is, back then they were still hoping rates would go back to 4%. I think the consumer has met us kind of in the middle, recognizing that rates in the fives or sixes is actually, from any kind of long-term historic perspective, a really good rate.”
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Absolutely, the perspective shared by Taylor Morrison’s CEO is a great reminder of the importance of context and expectations in the housing market. Mortgage rates have fluctuated significantly over the years, and understanding what constitutes a “good” rate can vary depending on historical trends and future forecasts. It’s encouraging to see industry leaders acknowledging the value in current rates, as it highlights an opportunity for consumers to make informed decisions based on the broader economic landscape. This perspective not only helps in setting realistic expectations but also in appreciating the moment’s potential advantages. It’s a great time for potential homeowners to evaluate their options and consider making moves that align with their long-term financial goals.
Absolutely, the perspective shared by Taylor Morrison’s CEO highlights an important shift in expectations and understanding among consumers regarding mortgage rates. It’s a testament to how people adapt to the changing economic landscape and recalibrate their views on what constitutes a ‘good’ rate. This adaptability is key in navigating the housing market, especially during times when rates fluctuate. It’s also a reminder of the importance of staying informed and flexible, making the most of opportunities that arise. Being able to recognize and appreciate the value in rates that might have seemed high in a different context shows a mature approach to personal and financial decision-making. This kind of insight can really help in making informed choices that align with one’s long-term goals.
Tax the crap out of the short term rental owners (aka AirBnB)…problem solved!
🇺🇸 The analysis of the housing market provided could have been significantly enhanced by addressing the critical issue of overvaluation within the US housing market, alongside the impact of rising taxes and escalating property insurance costs. A deeper exploration of these factors would have contributed to a more comprehensive understanding of the current state of the market. Moreover, the discussion seems to overlook the potential indicators of a market correction or downturn, such as the recent increase in job layoffs and foreclosures compared to the previous year 🤔. While acknowledging the strengths of the economy and job creation is VALID, it’s essential to consider these contrasting trends to present a balanced view. Your feedback suggests a need for a more nuanced analysis that encompasses both the positive aspects and the emerging challenges within the housing market. 💭
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It’s definitely an interesting perspective from the CEO of Taylor Morrison, especially in the current economic climate. Recognizing rates in the 5 or 6’s as really good could be a sign of adapting expectations and a realistic understanding of the market. It’s a reminder that while things fluctuate, there’s always a way to find value and opportunities. For those looking into mortgages, it’s a prompt to stay informed and look at the bigger picture, understanding how rates impact long-term investments. It’s also encouraging to see leaders in the industry sharing insights, helping consumers navigate these decisions with a bit more context and optimism.
It’s quite insightful to hear perspectives from industry leaders like the CEO of Taylor Morrison, especially about something as impactful as mortgage rates. Their observation about consumer attitudes towards rates in the 5 or 6 percent range being “really good” sheds light on how market expectations and perceptions have evolved. In times of fluctuating economic conditions, finding a rate that feels manageable and promising can indeed make a significant difference for individuals and families looking to buy homes. It’s a reminder of the importance of staying informed and flexible, adapting to market changes with optimism. For anyone navigating the housing market, such insights can be incredibly valuable, offering a beacon of hope and direction amidst the sea of numbers and rates.
Absolutely, the perspective shared by Taylor Morrison’s CEO highlights an important adjustment in the market’s expectations. It’s interesting to see how perceptions shift based on the economic landscape, isn’t it? In times where rates have been historically low, a rise can seem daunting. However, understanding the broader context of economic health and market stability can help in appreciating the value of current rates. It’s a testament to the adaptability and resilience of consumers, who can recalibrate their expectations to align with new realities. This ability to adjust and move forward, even in the face of change, is truly commendable. It also underscores the importance of staying informed and adaptable, qualities that serve well in many areas of life, not just in navigating mortgage rates.
It’s encouraging to see perspectives like this, highlighting the adaptability and optimism among both consumers and industry leaders. The current mortgage rates, as mentioned, reflect a complex economic landscape, but it’s promising when these rates are seen as opportunities rather than obstacles. This outlook by the CEO of Taylor Morrison suggests a resilience and forward-thinking attitude that can inspire confidence in the market. It’s a reminder of the importance of perspective in navigating financial decisions, and how, even in fluctuating economic times, there can be silver linings found in the challenges. Here’s to hoping this mindset helps guide consumers towards making decisions that are best for their circumstances, fostering a sense of stability and growth in the housing market.
Absolutely, the ever-evolving political alliances and rivalries certainly add an intricate layer to our understanding of politics, both on a national and state level. Observing figures like Tulsi Gabbard and Nikki Haley navigate these dynamics, especially at prominent events like CPAC, offers a fascinating glimpse into the strategic moves that shape our political landscape. It’s intriguing how these interactions might ripple through to influence strategies and public opinion, not just in places with a rich tapestry of viewpoints like California but across the entire country. The complexity of political discourse you’ve highlighted really underscores the importance of staying informed and engaged. It’s these kinds of developments that keep the political landscape so vibrant and thought-provoking.
Really good rates LOL but which we couldn’t afford since 2007. What makes her think we can in 2024
What a low energy conversation.. Looks like forced talk 😑