(Morning News) The Fed announced that it has made a biggest interest rate hike decision since 1994. Millions of buyers in the United States may be excluded from the real estate market because of this, and the first buyers are particularly hit.
The Federal Reserve Overnight (Wednesday, June 15) Roll the benchmark interest rate 75 basis points to 1.5 % to 1.75 %Areas have tried to suppress the highest inflation situation in 40 years.
Eric Finnigan, director of John Burns Real Estate Consulting, wrote on Twitter overnight: "The mortgage interest rate has increased from 3 % early this year to 6 %.The change is actually equal to excluding 18 million households qualified to obtain $ 400,000 for a mortgage loan. "
Finnien said that 400,000 US dollars of loans are divided into 30 years, if 3 % interest rates, if 3 % interest rates, if 3 % interest rates are divided into 3 % interest rateThe fixed interest rate mortgage loan is calculated that the monthly loan repayment of the buyer is about $ 1686, excluding taxes and other expenses.In total, the total loan repayment was $ 600,110, of which $ 27,110 was interest.
But after the interest increased to 6 %, Finny Gen said that the monthly repayment of the same mortgage loan will be $ 2,398, and the total loan repayment amount is 863,353 US dollars, of which 463353The dollar is interest.In contrast, the monthly repayment volume increased by 42 %.
According to a recent survey of the recent recently conducted a recent survey of 900 real estate agents, about half of the buyers have also decided to suspend their home buying plan.According to the survey, these buyers chose to wait for six to 12 months before re -consider buying a house.
Glenn Kelman, CEO of the U.S. real estate agency Redfin, also asked 8 % of the company's employees to leave in his blog post two days ago.He said: "The company's demand in May this year is 17 % lower than expected. Our agent and support department employees do not have enough workload."
KyyleNo layoffs, because "the growth rate of mortgage interest rates is faster than at any time in history. We may face several years, rather than the reduction of house sales for months."
In addition, according to Bloomberg reportAt present, the number of housing sellers in the United States has reached its highest level since October 2019.This is also the first slow sign of slowing down since the real estate market has risen crazy rising during the crown disease.
The survey report released by Redfin shows that in the four weeks of May 22, nearly one -fifth of sellers have reduced prices.Other indicators to measure market popularity include: houses that have been listed and priced higher than the listing price have also stabilized.
The report also said that many consumers are struggling to face higher mortgage interest rates and economic uncertainty.This also made investors began to doubt whether the US real estate had reached its peak and hesitated to enter the market.
