Sprout Mortgage: ‘The Faucet Just Got Turned Off’. Home Sales Are Getting Canceled at the Highest Rate Since the Start of the Pandemic. Homebuyers are canceling deals at the highest rate since the start of the pandemic… Ok… OK – is it really as bad as the headlines say? LET’S DIG IN!
0:17 – Homebuyers are canceling deals at the highest rate since the start of the pandemic (about 15%).
1:00 – The sky isn’t falling. Yes, mortgage rates are higher.
1:30 – The FED is fighting inflation & slowing markets down.
2:10 – US Homebuilders are slowing down their land acquisition/purchases.
2:25 – Stuart Miller, Lennar Chairman perspective.
2:43 – Sprout Mortgage closes doors seemingly overnight!
3:40 – A mix of good news and “bad” real estate and mortgage news.