Chris Lamm Mortgage

Will the housing market need a miracle for affordability to return? And what about the looming possibility of mortgage rates hitting 9% by year-end? I’m back with my latest market update.

This year has been nothing short of a rollercoaster for the housing market. If we rewind to the first quarter, we saw a spike in inflation, which inevitably led to a surge in mortgage rates. Traditionally, rising rates often trigger an increase in housing inventory, pushing sellers to lower prices to accommodate the costlier loans. However, this year, despite rates hovering in the sixes and sevens, nationwide appreciation is still anticipated. The fundamental reason for this unique situation? Supply and demand.

The big question now is, when can we expect rates to go down? While it’s possible we’ll see mortgage rates drop significantly between today and the next year’s election, it’s essential to understand that this will likely be temporary. As rates fall, more potential buyers, currently waiting on the sidelines, will flood the market, further intensifying demand. This could ultimately lead to even higher prices, canceling out the benefits of lower interest rates.

Lastly, there are some concerning financial statistics to consider. National credit card debt has hit an all-time high, totaling a staggering $1 trillion. For many, this is a result of trying to make ends meet in the face of inflation, without commensurate wage growth. The high-interest rates on credit cards, often in the 20-30% range, make this situation particularly troublesome.

We’re here to help, and we’ll be hosting a financial freedom class (details in this email) to explore various debt management options.

If you have any questions or if there’s something specific you’d like to discuss, please feel free to respond to this email or give me a call at the office. Your support and referrals have been invaluable over the years, and my team and I are grateful for your trust.

Please subscribe and like my channel so we can share this information with others!

Questions? Contact Chris Today!

What's Your Home Worth?

Get your FREE, instant valuation now!

Get Home Value

Want To Buy A Home?

Start your home search here!

Search Homes
Apply Loan Types About Us Questions?

Give us a call today @ 530-282-1166 or fill out the form below and we will follow up with you asap!

Chris Lamm

Contact Chris LammYour local Redding mortgage professional
970 Executive Way
Redding, CA 96002
Phone: 530-282-1166
Get Directions


X Chris Lamm Mortgage

If you have any immediate questions or concerns don't hesitate to give us a call @ 530-282-1166


I agree to the following terms & conditions

I hereby certify that the information given in my submission is complete and correct and is given for the purpose of potentially obtaining a mortgage loan and/or financial services applied for.