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Email me if you’re looking to buy or sell a home in the greater Sacramento area (w/n ~30mn drive from Sacramento): jason@meetjasonwalter.com
Lumber futures prices have been dropping like crazy lately. They have dropped about 40% over the last month and about 15% in the last week alone! The current futures price is $930.
Meanwhile rising material prices for building new homes and supply chain shortages caused builder confidence to dip to its lowest level since August 2020. However, new home prices have been skyrocketing and this is one of the main reasons why mortgage applications for new homes dipped by 9% in May compared to the previous month. In addition, per the MBA, the average loan size of $384,000 for a new home purchase increased for the fourth consecutive month and reached a new all-time high.
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr FRM increased to 3.26% today for the current mortgage rates. This is mixed news if you’re a homebuyer right now or if you’re a homeowner looking to refinance.
Comment below: what’s your housing market 2021 forecast and housing market forecast 2021? Do you think a housing crash 2021 will happen and there will be a housing crash due to a housing bubble, a 2021 housing market crash 2021 or are your housing market predictions that the real estate market 2021 and home prices 2021 will continue to surge?
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***
Jason Walter, CPA (lic 103885)
Sacramento Realtor/Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com
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More of My YouTube Videos:
Why Aren’t Home Prices Dropping? Housing Market 2020
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Mortgage Loan Forbearance Update (5 MAJOR CONS of Mortgage Loan Forbearance & More):
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed Realtor with Realty One Group in California under DRE 01923240.
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