The Real Estate News Brief: Mortgage Rate “Magic Number”, Millennial Homeownership, 1% Down Payment Program

In this Real Estate News Brief for the week ending September 9th, 2023... we’ll tell you the mortgage rate buyers are waiting for, the homebuying expectations for millennials, and a new super low 1% down payment program.   Economic News   We begin with economic news from this past week, and comments from three Federal Reserve Bank Presidents about the possibility of more rate hikes. New York’s Bank President, John Wiliams, spoke at a conference and said that monetary policy is in a good place right now with the desired effects. But, he says: “Going forward, we will have to keep watching the data… and asking ourselves the question ‘is this sufficiently restrictive, do we need to maybe raise rates again?” He also says that worries about a recession have essentially vanished, although he expects the unemployment rate to hit 4% in the coming months. It’s currently at 3.8%.... ...That’s it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review!   If you’d like to know more about how to buy real estate for investment purposes, sign up for a free membership at RealWealth.com. It’ll take just a minute to sign up and will give you complete access to our website. That includes hundreds of webinars, data on different rental markets, a curated list of real estate professionals and property teams, and access to our own experienced investment counselors.   Thanks for listening! Kathy Fettke   Links:   1 - https://www.marketwatch.com/story/feds-williams-says-monetary-policy-is-in-a-good-place-recession-talk-has-vanished-270384ec   2 - https://www.marketwatch.com/amp/story/chicago-feds-goolsbee-suggests-central-bank-is-almost-done-raising-rates-bd88492e   3 - https://www.marketwatch.com/story/feds-logan-says-skipping-rate-hike-in-september-does-not-imply-stopping-61a077c   4 - https://www.marketwatch.com/story/u-s-jobless-claims-fall-to-216-000-lowest-level-since-february-bfe4111f?mod=mw_latestnews   5 - https://www.freddiemac.com/pmms   6 - https://www.cnbc.com/2023/09/05/mortgage-rate-tipping-point-homeowners-say-5percent-is-the-magic-number.html   7 - https://www.redfin.com/news/gen-z-millennial-affordability-barrier-to-homeownership/   8 - https://www.cnn.com/2023/08/25/homes/zillow-low-down-payment-loan/index.html