January 10, 2025: "The 2025 Homebuying Guide", a National Association of Realtors radio program and podcast hosted by Stephen Gasque featured HSH.com vice president Keith Gumbinger discussing what to do -- and what not to do -- when looking to secure home financing in 2025.
January 6, 2025: "Mortgage Rate News and Outlook", a CNET Money update of home financing conditions by Katherine Watt featured some comments from HSH.com VP Keith Gumbinger:
Only a sudden economic shock, such as the onset of a recession or spike in oil prices, could cause mortgage rates to plunge, said Keith Gumbinger, vice president of mortgage site HSH.com. "Drastic changes in direction are usually the result of some emerging significant event somewhere that upends financial markets."
Mortgage rates are also impacted by geopolitical events, including military conflicts and elections. Political instability can lead to economic uncertainty, which can result in more volatility with bond yields and mortgage rates.
Bond market investors would have to be convinced that the economy is cooling for mortgage rates to reverse course. That's why, absent a fresh downshift in the inflation trend or a sudden weakening of labor conditions, mortgage rates will remain close to 7% for a while, said Gumbinger.
January 2025: "Best Money Moves for 2025", a Bottom Line look ahead to the new year included a forecast for real estate conditions from HSH.com vice president Keith Gumbinger.
"If you are a seller: You still are in the driver’s seat due to limited inventory and strong demand, especially in desirable locations. I expect the median US sales home price to rise 2% to 3% this year, after going up 3% to 4% in 2024. Sellers will need to factor in the current "lock-in" effect - does it make financial sense to sell your home, even with prices near record highs, if you have to exchange your sub-3% mortgage for a much higher one to purchase your next house?"
"If you are a buyer: Optimize your chances in what continues to be a challenging and competitive environment. The average home remains on the market only about 25 days. If you find your dream house, be ready to move on it quickly. Make sure your credit and finances are in good shape. Know what your maximum price is and what factors are deal breakers. I expect rates on 30-year fixed mortgages to come down, but the decline is unlikely to be smooth. Plan and budget for the low-to-mid-6% range."
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