I recently assembled a panel that included Tressa “Melora” Love from Wells Fargo (Mortgage Expert), Gregory Heym of Terra Holdings (Chief Economist of Brown Harris Stevens), and Noah Rosenblatt of Urban Digs (Founder of this incredible real estate data website).
The question I posed for the Webinar was: “What Happens When Mortgage Rates Begin To Drop?”
We discussed:
- Why mortgage rates are high today
- How each expert is measuring the state of the market? That is, what metrics they are using.
- How mortgage rates differ in NYC from elsewhere?
- How we should be thinking about mortgage rates today
- The advantages that New Yorkers have with getting mortgages
- How the job market in NYC impacts the housing market, if at all
- The one thing that impacts the NYC real estate market the most
- Whether anyone thinks we’re in a recession or that a recession looms
- How a recession would likely impact the market
- Where mortgage rates are right now- not the headlines, but the truth
- Where mortgage rates are going in the next 12, 18, and 24 months
- The role that psychology plays in driving the real estate market up or down
- Predictions for Q4, 1Q2024 and beyond
If you want to learn something, gather some data, or hear people disagreeing over that data, check it out. We’ll have it here for a limited time. Thanks! -Scott & The HRT