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Why Home Purchase Cancellations are Rising, and What Needs to Change

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Manage episode 502597958 series 3645668
Content provided by Schwab Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Schwab Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Chen Zhao explains why home purchase cancellations are on the rise, citing buyer difficulty with high mortgage rates. These cancellations happen between the contract agreement and financing offers, when homebuyers may realize they can’t afford the property. She doesn’t expect mortgage rates to fall even if the Fed cuts rates, and says the economy needs to “weaken a lot more” to actually bring them down. Chen thinks sellers will need to sweeten the deal for buyers.

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7027 episodes

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iconShare
 
Manage episode 502597958 series 3645668
Content provided by Schwab Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Schwab Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Chen Zhao explains why home purchase cancellations are on the rise, citing buyer difficulty with high mortgage rates. These cancellations happen between the contract agreement and financing offers, when homebuyers may realize they can’t afford the property. She doesn’t expect mortgage rates to fall even if the Fed cuts rates, and says the economy needs to “weaken a lot more” to actually bring them down. Chen thinks sellers will need to sweeten the deal for buyers.

======== Schwab Network ========

Empowering every investor and trader, every market day.

Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe

Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185

Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7

Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch

Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore

Watch on DistroTV - https://www.distro.tv/live/schwab-network/

Follow us on X – https://twitter.com/schwabnetwork

Follow us on Facebook – https://www.facebook.com/schwabnetwork

Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/

About Schwab Network - https://schwabnetwork.com/about

  continue reading

7027 episodes

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