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Mortgage Point » Your Trusted Source for Mortgage Banking and Servicing News 80 April 2023 F I N A L T H O U G H T S In this month's Final Thoughts, MortgagePoint looks at how factors such as interest rates and rising housing demand are affecting the housing market, as well as the headwinds faced by homebuyers, home sellers, and homeowners amid affordability challenges and increasing homeownership costs. "homebuyers remain sensitive" Joel Kan, MBA's VP and Deputy Chief Economist, on mortgage applications for new home purchases increasing just 1.2% compared from a year ago. "rates are down" Sam Khater, Freddie Mac's Chief Economist, details recent mortgage rate declines following an increase of more than half a percent over five consecutive weeks. "struggling" Andrew Vallejo, a Redfin real estate agent in Austin, Texas, discusses how higher interest rates have increased the cost of homeownership nationwide, making finding or selling a home more challenging for homebuyers and home sellers. "[remains] a challenge" Nick Bailey, RE/MAX President and CEO. on the moderation of home prices and how housing demand remains strong, but a lack of available, affordable homes persists. "way more demanding" Elena Fleck, a Redfin real estate agent in Palm Beach, Florida, discusses how homebuyers today are way more demanding and selective when and how they purchase homes. NAVIGATING THE HEADWINDS

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