Wednesday, Sep 07

The Most Important Thing Today (9/7/22)

Proactive communication about what’s going on in the market and the economy is key to building stronger client relationships. Each week, the Helios team breaks down the most important information your clients need into easy-to-understand talking points for you to share.

Let's talk about mortgage rates!

US Mortgage Rates

Year over year, the average 30-year fixed mortgage rate has doubled from 3.03% to 6.08%.

With the rise in rates, many prospective buyers may reconsider the option to purchase and choose to continue renting as housing affordability has reached its lowest level in decades.

Average housing prices recently hit new highs, but price growth has since slowed and sales volume has decreased.

Mortgage activity was hot post-2020 pandemic, but the cooling housing market has led many major brokerages, mortgage lenders, and property tech companies to announce varying degrees of layoffs. Experts say this may continue as forecasts predict a range of 35% to 50% decline in mortgage originations this year.

Source: Helios Quantitative Research, Bloomberg

Team Helios

Team Helios

Helios partners with Financial Advisors to help them grow their business, save time, and add scale to their services through enhanced asset management capabilities. Helios was founded in 2016 in Granite Bay, California.