Byron Lazine, Tom Toole, and Lisa Chinatti discuss mortgage rates rising amid debt ceiling talks, sacrifices buyers make to afford a down payment, the cost of online lead generation, and buyers turning to real estate agents for financing advice.
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Timestamps:
00:00–00:55 Intro
00:55 Takeaways from last week’s episode w/ George Ratiu (KCM Chief Economist)
05:38 55% of buyers turn to real estate agents for financing advice
11:27 53% of repeat buyers go back to their agent for financing questions
14:13 Different kinds & levels of knowledge needed by buyers in different environments
16:27 Ivy Zellman quote
17:18 AI and the next 10 years of the real estate industry
19:28 12% of buyers reports skipping meals to save enough for a down payment
20:52 “When will homes be affordable again?”
22:25 Market and interest rate reactions to the threat of default
25:26 Predictions on what will happen when a debt deal is struck
27:02 Why it’s so important to have daily conversations with (multiple) lenders
30:30 Plans for Memorial Day weekend
33:07 The high cost of online lead generation
Show Resources:
https://www.housingwire.com/articles/higher-mortgage-rates-wider-spreads-follow-debt-ceiling-impasse/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXZNOASUT0V6#cxrecs_s
https://nowbam.com/fannie-mae-is-the-bear-zillow-is-the-bull-how-to-talk-to-consumers-about-conflicting-home-prices/
https://www.zillow.com/research/buying-a-home-2023-32660/
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
#mortgagerates #housingmarket #realestatemarket
