Experts rely on a wealth of data when formulating determinations about what lies ahead for the housing market. Some of the most insightful data points in the industry are included in the monthly Mortgage Monitor, published by Intercontinental Exchange (ICE).
October Research Chief Knowledge Officer and Keys to Real Estate host Mary Schuster spoke with Andy Walden, head of mortgage and housing market research at ICE, about what metrics he believes serve as the most valuable indicators of what lies ahead for the marketplace on a recurring basis.
On an optimistic note, Walden told Schuster he expects the housing market to see “modest improvement” in the months ahead as he witnesses several metrics gradually moving in the right direction.
“We all want lower interest rates. And if interest rates moved a percent lower overnight, lenders would love it,” Walden said. “It would increase volume out there in the market, but that doesn’t solve the long-term problem because what would happen is rates would fall, you’d increase demand out there, you’d buy down inventory again, and your prices would increase. And we’d eventually be stuck in the same affordability challenge we are right now. So, we need things to move somewhat slowly.”
The industry insider explored key topics such as housing affordability, inventory and cautiously optimistic expectations for the rate environment.
He highlighted origination trends and what is driving the persistent push-and-pull between buyers and sellers over the past few months and what we can expect for the remainder of the year.
Listen to what they had to say here.