While overall mortgage demand has weakened, there's a growing trend when it comes to home borrowers adjustable rate mortgages. Our Diana Olic is here with that story. Morning, Diana. >> Good morning, Carl.Yeah, mortgage demand fell again last week, even as interest rates eased slightly. The average rate on the 30-year fix dropped to 6.43% from 6.46%. And that's for loans with 20% down or conforming loans.Applications to refinance fell 8% for the week, and applications for a mortgage to buy a home fell 1%. A ...

Core Viewpoint - Peter Schiff warns of a potential housing crisis due to rising mortgage rates and inflated home prices, suggesting that many homeowners may default on their mortgages and "mail in their keys" [2][3]. Group 1: Housing Market Dynamics - Schiff attributes the high housing prices to historically low mortgage rates, which allowed buyers to afford higher prices [2]. - The current situation shows a mismatch where mortgage rates have increased significantly, but home prices have not adjusted downward accordingly [2][3]. - This disconnect is expected to lead to a housing emergency, with defaults increasing as homeowners struggle to sell their properties for more than they owe [3]. Group 2: Homeowner Behavior - Many homeowners are currently reluctant to sell due to locked-in low mortgage rates, which has reduced selling pressure in the market [3]. - However, eventual life changes such as job relocations or financial strain will force some homeowners to sell, potentially at a loss [3]. - Schiff predicts that this could trigger a "cascading effect" throughout the housing market as more homeowners opt to default [3].

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Singapore private home prices have jumped the most in three quarters, after a resurgence in sales of new apartments https://t.co/dpI8pHoSPg ...

Market Trends - Australian home prices are rising at the fastest pace in nearly two years [1] - Expanded first-home buyer incentives are boosting demand [1]

Average home prices are up 2,000% since 1970.The S&P 500 is up 12,800% over the same period. ...

Housing Market Sales - Existing home sales were essentially flat in August, with a seasonally adjusted annualized rate of 4 million units, down 0.2% from July, but up 1.8% from August of last year [1] - The street was looking for a slightly bigger drop of 1 to 1.5% in existing home sales [2] - Sales were strongest in the Midwest, weakest in the Northeast [2] Housing Market Supply - Supply is dropping, down 1.3% from July, but still up 11.7% year-over-year [2] - There is now a 4.6-month supply of homes for sale, considered lean [3] Housing Market Prices & Time on Market - The median price of a home sold in August was $422,600, up 2% year-over-year [4] - Homes are staying on the market longer, 31 days, up from 26 days last year [4] Buyer Trends - First-time buyers remain low at 28% of sales [4] - All-cash purchases account for 28% of sales, up from 26% a year ago [4] Mortgage Rates - Mortgage rates are around 6.37% [5] - The market is waiting for economic indicators to influence mortgage rates [6]

Core Insights - The median home price reached $422,600, marking a 2% increase from the previous year and the highest price recorded for the month of August [1] Group 1 - The median home price is at an all-time high for August [1] - The year-over-year increase in median home price is 2% [1]

Housing Market - Average home prices have increased by 2,000% since 1970 [1] Stock Market Performance - The S&P 500 has risen by 12,800% since 1970 [1]

Market Trends - An unprecedented discount awaits in the housing market if you know where to spot it [1] Industry Focus - The report highlights rising home prices [1]