Banks tighten lending; 46% rejection rate on mortgage loans

Banks tighten lending; 46% rejection rate on mortgage loans

It was already difficult for businesses and households to borrow money earlier this year — but after the collapse of three US regional banks and a cascade of rate hikes by the Federal Reserve, getting money has become considerably harder.   What does the decline in...
Consumer debt soars to the highest on record, why is this good and bad news for real estate

Consumer debt soars to the highest on record, why is this good and bad news for real estate

The federal reserve bank of NY recently published a report showing consumer debt jumping to the highest levels ever recorded with every category growing from mortgages, autos, credit cards, lines of credit, etc…  Is some consumer debt better/worse than others for the...
Fannie-Mae-sees-dark-days-ahead-for-the-housing-market;

Fannie-Mae-sees-dark-days-ahead-for-the-housing-market;

It will get much worse for the housing market and the mortgage industry. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. Federal Reserve chairman Powell recently threw even more cold water on their...
Prices drop 6%, what comes next?  Are you ready for a real estate reset?

Prices drop 6%, what comes next?  Are you ready for a real estate reset?

One of the world’s bubbliest real estate housing markets is tilting from sellers to buyers with dizzying speed. Canadian home prices fell for the first time in two years as a rapid rise in interest rates looks set to threaten one of the world’s hottest housing...