Zillow Home Value and Sales Forecast: August 2022
Zillow’s outlook for home prices has been revised down significantly due to a sharp downturn in July. Zillow forecasts 2.4% home value growth through the end of July 2023.
Zillow Home Value and Sales Forecast: August 2022
Zillow’s outlook for home prices has been revised down significantly due to a sharp downturn in July. Zillow forecasts 2.4% home value growth through the end of July 2023.
Mortgage Rates Decline After Inflation Data Below Expectations
Mortgage rates declined slightly last week.Inflation data released last week came in below market expectations, resulting in interest rate declines and a rally in equity markets. Investors viewed this data as an indication that the Federal Reserve may not have to increase short term rates as much as previously estimated. While both consumer and producer prices showed increases in July, the rate of increase slowed substantially.
Mortgage Rates Increase as Markets Respond to Conflicting Economic Data
Mortgage rates increased last week, reversing direction after several weeks of declines. Comments from Federal Reserve members early in the week started moving interest rates higher, as they messaged that there is still much work to be done in taming inflation.
Mortgage Rates Drop on Slowing Economic Activity
Mortgage rates dropped significantly last week. The Federal Reserve increased the federal funds target rate by 75 basis points at the July meeting, in line with market expectations.
Mortgage Rates Continue Fall While Investors Price in Recession Risk
Mortgage rates continued to move lower last week. While mortgage rates are still significantly higher than the beginning of this year, they have declined over 0.50% from highs in mid-June that were over 6.00%. Economic indicators last week pointed to slowing growth and continuing increases in initial jobless claims.
Mortgage Rates Decline Despite High Inflation Indicators
Mortgage rates declined last week, even with very high inflation indicators. In economic data released last week, both consumer and producer prices showed higher than anticipated increases. But investors continue to price in a potential recession in 2023, which may force the Federal Reserve to begin lowering the federal funds target sometime next year.
Zillow Home Value and Sales Forecast: July 2022
Zillow’s housing market outlook has been revised down from June. Zillow forecasts 7.8% home value growth over the next 12 months (July 2022-June 2023).
Dr. Skylar Olsen Returns as Zillow Chief Economist
Dr. Skylar Olsen Returns as Zillow Chief Economist.
Mortgage Rates Move Up on Strong Economic Data
Mortgage rates reversed their recent trend, moving up last week. Economic data releases last week were stronger than expected for both job growth and demand for services.
Mortgage Rates Drop as Investors Eye Potential Recession
Mortgage rates declined for the second week in a row. Investors are pricing in more risk of economic slowdown and a potential recession, which may slow the pace of future interest rate hikes at the Federal Reserve.
