The mortgage lock-in effect may be starting to ease.There are more mortgage holders with 6%+ rates than sub 3% mortgages for the first time since 2020. As more existing homeowners have higher interest rates they may be more willing to sell their homes. More houses for sale likely will lead to reduced prices.Lennar, then second largest homebuilder in the US, were selling homes for $500,000+ in 2022. Now, they are selling new homes for $375,000. This is is a 27% price drop in 3 years.Inventory influences housing prices.Housing prices are projected to decline an additional 10% in areas that inventory is at or above pre-pandemic levels. Pandemic boom areas are projected to decline an additional 20%.

<div><span style="font-family: arial, sans-serif;">The mortgage lock-in effect may be starting to ease.</span></div> <div><span style="font-family: arial, sans-serif;"> </span></div> <div><span style="font-family: arial, sans-serif;">There are more mortgage holders with 6%+ rates than sub 3% mortgages for the first time since 2020. </span></div> <div><span style="font-family: arial, sans-serif;"> </span></div> <div><span style="font-family: arial, sans-serif;">As more existing homeowners have higher interest rates they may be more willing to sell their homes. More houses for sale likely will lead to reduced prices.</span></div> <div><span style="font-family: arial, sans-serif;"> </span></div> <div><span style="font-family: arial, sans-serif;">Lennar, then second largest homebuilder in the US, were selling homes for $500,000+ in 2022. Now, they are selling new homes for $375,000. This is is a 27% price drop in 3 years.</span></div> <div><span style="font-family: arial, sans-serif;"> </span></div> <div><span style="font-family: arial, sans-serif;">Inventory influences housing prices.</span></div> <div><span style="font-family: arial, sans-serif;"> </span></div> <div>Housing prices are projected to decline an additional 10% in areas that inventory is at or above pre-pandemic levels. Pandemic boom areas are projected to decline an additional 20%.</div>

If you want to live like the wealthy, you need to think like the wealthy.  Join Ferenc Toth each week for the Your Personal Bank™ Show, Saturdays at 10:00AM. Your Personal Bank™ is a powerful financial tool typically only shared with the ultra-wealthy by the financial industry.  Learn how to gain control of your money . . . create tax-favored income . . . and access more funds over your lifetime.  It’s the Your Personal Bank™ Show . . . the show that can change your financial life. Call 866-268-4422 for more information.

<p>If you want to live like the wealthy, you need to think like the wealthy.  Join Ferenc Toth each week for the Your Personal Bank™ Show, Saturdays at 10:00AM. Your Personal Bank™ is a powerful financial tool typically only shared with the ultra-wealthy by the financial industry.  Learn how to gain control of your money . . . create tax-favored income . . . and access more funds over your lifetime.  It’s the Your Personal Bank™ Show . . . the show that can change your financial life. Call 866-268-4422 for more information.</p>