Central Coast Mortgage Applicants Decline Despite National Growth, Other News

Published by
Peter Kavinsky

The Mortgage Bankers Association Weekly Poll shows that after many weeks of declining mortgage applications, mortgage applications increased nationwide during the week of Sept. 16.

But we don’t see the same trend here on the Central Coast.

“The hype has kind of died down just because the value has gone up so much,” said Lindsey Harn, real estate specialist at Richardson Properties.

“Affordability has definitely made life difficult for many buyers due to higher mortgage rates,” said Robert Mariani, owner/broker of Mariani Realty.

Local realtors say high interest rates are making people less likely to buy.

“Last year, in 2021, around the same time, interest rates were 3.125%. This year they are hovering around 6.125%,” Harn said. “So we’re actually seeing fewer people applying for mortgages because the cost of actually borrowing that money has gone up a lot.”

Although local property prices have not changed significantly, the state of the housing market has made some sellers more lenient.

“If people need to sell their home on a deadline, they need to be a little more realistic or work with a potential homebuyer to help them buy back their interest rate,” Harn said.

“Just when things look bad, that’s when the best opportunities open up,” Mariani said.

Mariani says that while prices haven’t really changed, buyers have the right to negotiate.

“Higher mortgage rates will make life difficult for buyers with their purchasing power, but right now buyers are still benefiting because they have regained their bargaining power,” Mariani said.

“There was a funny meme going around online — ‘marry a house but date an interest rate,’” Harn said.

Harn says interest rates are likely to come down by next year and be in the 4-4.5% range.

“So if you can get into the house now and keep paying, hopefully you have a bright future ahead of you,” Harn said.

Today Latest News Update

I have tried to give all kinds of news to all of you. latest news today 2022 through this website and you will love all this news very much because all the news that we always report in this news is always there. This is a hot topic, and whatever the latest news

we have always tried to contact you so that you continue to receive Electricity News, Graduation News, Donation News, Bitcoin News, Trade News, Real Estate News, Gaming News, Breaking News, Digital Marketing, Telecommunications News, Beauty News, Banking News, Travel News, Health News, Cryptocurrency news, claims news latest news and you will always get news information through us for free and also tell people. Specify that any information relating to other types of news will be

News live today

All these news that I made and shared for you people, you will like it very much, and in them we continue to offer topics for you people, like every time, so that you continue to receive news information, such as popular topics, and you. Our goal is to be able to receive

all kinds of news without passing through us, so that we can bring you the latest and greatest news for free, so that you can move on, getting informed about this news with you. In the future, we will continue

give information about more world news update today Types of breaking news through the posts on our website so that you always get ahead in this news and whatever information is there, it will definitely be passed on to you people.

World news today

All this news that I brought you or will be the most different and best news that you people will not receive anywhere, along with information Breaking News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News out of this, available to all of you, so that you are always in touch with the news, be ahead in this matter and continue to receive today’s news all types of news for free until today so you can get news while getting it. Always take two steps forward

Credit goes to a news site – This is the original content owner’s news website. This is not my content so if you want to read the original content you can follow the links below.

Get original links here🡽

window.fbAsyncInit = function() {
FB.init({

appId : ‘335772034015171’,

xfbml : true,
version : ‘v2.9’
});
};
(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) {return;}
js = d.createElement(s); js.id = id;
js.src = “https://connect.facebook.net/en_US/sdk.js”;
js.async = true;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

Recent Posts

  • News

Populist Babiš celebrates success, writes Austria. The media also notice the gains of the SPD | World

<!----> "The clear winner of the municipal elections in the Czech Republic is the populist…

41 seconds ago
  • News

J. Landis Martin donates $3 million to Pritzker Law School and other news

Daily photo from the archive of Colin Boyle Pritzker School of Law. On Thursday, Northwestern…

5 mins ago
  • News

Yermak urges Israel to cut ties with ‘barbaric Russian state’

Ukrainian authorities are calling on Israel to do more to help our state defend itself…

5 mins ago
  • News

Russian authorities can use mobilization to bolster National Guard units – British intelligence

About this in daily review This is reported by the British Ministry of Defence. As…

7 mins ago
  • News

Defense Ministry shot down eight Ukrainian “kamikaze drones” over Zaporozhye nuclear power plant

In response to precise drone attacks on military facilities in Odessa, Zelensky ordered attacks with…

10 mins ago
  • News

The six meteorological stations of the Canary Islands have never had so much rain on a September day.

Las Palmas de Gran Canaria (EFE) - Tropical Storm Hermine has already set a historic…

11 mins ago