Mortgage Trends and Market Shifts | Real Estate Market Update w/ Martin Perdomo

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Mortgage rates are falling, but buyers are still walking away from deals in record numbers. What's really happening in today's real estate market? We break down the paradoxical trends shaping housing decisions across America.

Phoenix and Miami lead the nation with pending home sale cancellation rates exceeding 15% - significantly higher than last year. Despite buyer hesitancy, persistent demand continues in certain markets, creating a fascinating tension between opportunity and caution. Meanwhile, trade tensions have unexpectedly benefited prospective homebuyers, pushing the average 30-year fixed mortgage rate down to 6.61%, its lowest point since October.

This rate drop has triggered a 20% surge in mortgage applications and a six-month high in refinancing. Yet major loan originators haven't seen corresponding gains as 10-year Treasury yields remain elevated around 4.35%. Looking ahead, economists anticipate rates will hover around 6.5% through 2025, but high home prices continue to create significant affordability hurdles for many Americans.

We're thrilled to announce our upgraded April 23rd event at El Diamante restaurant in Tampa, followed by an exclusive tour of our newly acquired $1.4 million apartment complex. I'll personally walk you through how I evaluate deals, structure acquisitions, and scale properties for maximum returns. This hands-on session, "How to Be Financially Free in Under Three Years," represents everything we teach in action. Secure your spot now at WealthyAF.ai/event before tickets sell out!

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Episode Transcript

Speaker 1 (00:01):
Welcome back to this week's real estate market update
.
Today we're diving into trendsshaping the real estate
landscape.
We've got a big announcementcoming up, an event that could
launch you straight onto thefast track to financial freedom,
so stay tuned.
The US housing market isexperiencing notable shifts,
influenced by fluctuatingmortgage rates, economic

(00:22):
uncertainties and recent policychanges.
In January, approximately 15.4%of pending home sales in
Phoenix metro area were canceled, up from 14.3% the previous
year.
This trend mirrors a nationalpattern where buyers are
increasingly walking away fromdeals due to high home prices,

(00:45):
elevated mortgages and ongoingeconomic and political
uncertainties.
Similarly, miami saw about15.3% of pending home sales
canceled in January, slightlyhigher than the national average
.
This uptick reflects buyers'hesitancy amid current market
conditions.

(01:05):
Despite these challenges, somebuyers are proceeding with
purchases, indicating persistentdemand in certain areas.
On the financial side, theongoing trade tensions have led
to unexpected benefits forprospective homebuyers.
The average 30-year fixedmortgage rate has declined to

(01:26):
6.61%, the lowest since October.
This decrease has spurred a 20%surge in mortgage applications
and a six-month high inrefinance applications,
providing a temporary boost tohousing market activity.
Despite the dip in mortgagerates, home loans originators

(01:47):
such as Rocket Coast, mr CooperGroup and Loan Depot have not
seen significant gains.
The 10-year Treasury yieldsremain elevated at around 4.35%,
keeping mortgage rates high andlimiting refinancing prospects.
Before we continue, let's take aquick break, and this one

(02:08):
exciting news On April 23rdevent is getting an upgrade, new
vibes, new venue and even morevalue.
We're kicking things off at ElDiamante restaurant in Tampa,
where you'll join me and a crewof driven real estate
professionals for some solidnetworking and strategy.

(02:28):
Then we'll head just down theroad to our newly acquired
24-unit apartment complex onNorth Hubert Street.
This $1.4 million acquisitionis more than just real estate.
It's a live case study ineverything we teach.
I'll walk you through theproperty myself and break down
exactly how I evaluate deals,structure acquisitions and scale

(02:51):
them for serious returns.
This session is called how toBe Financially Free in Under
Three Years and, trust me, thisis where the rubber meets the
road.
If you're ready to learn bydoing and seeing it live, grab
your seat now at WealthyAFaiforward slash event.
Now back to the headlines.

(03:13):
In broader context, the averageUS rate for 30-year mortgage
has dipped for the secondconsecutive week, now at 6.64%.
While this provides a modestadvantage for potential
homebuyers, high income pricescontinue to pose affordability

(03:34):
challenges.
Economists anticipate mortgagerates to hover around 6.5% for
2025, but broader economicuncertainties may continue to
dampen buyer enthusiasm.
In summary, the housing marketis navigating a complex
landscape of fluctuatingmortgage rates, economic

(03:55):
uncertainties and policy changes.
Buyers and sellers alike areadvised to stay informed and
consider current marketconditions when making decisions
.
That's a wrap in this week'sreal estate market update.
If you found this helpful, besure to share with your network
and tune in next time for moreinsights and the latest market

(04:16):
trends.
And remember, if you want toget ahead of the market, grab
your ticket for our upcomingevent before they're all gone at
wealthyai forward slash events.
Thanks for listening.
See you next time.
Peace out.