Election anxiety is stalling the housing market, agents and mortgage lenders say

Published On Oct 29, 2024, 2:10 PM

The housing market is experiencing a slowdown as election-related anxieties are affecting buyer confidence and lending activity. Real estate agents and mortgage lenders report that potential homebuyers are hesitant to make decisions in light of uncertain political outcomes in the upcoming election. This has led to a decrease in housing transactions and increased challenges in loan approvals, further complicating the already tenuous conditions in the housing market, which is grappling with high mortgage rates and limited inventory.

Read full article

Stock Forecasts

VNQView VNQ chart on TradingView

Negative

The anticipated slowdown in the housing market may deter potential investors, but could create buying opportunities in real estate investment trusts (REITs) that focus on rental properties and apartments.

Related News

Stock market today: Dow, S&P 500 poised for more losses as Fed rate-cut doubts build

Oct 22, 2024, 6:30 AM

Stocks are eyeing a second day of losses as investors rethink the outlook for interest-rate cuts.

SPY
VNQ
GLD

Mortgage rates march higher for third straight week

Oct 17, 2024, 12:07 PM

Mortgage rates climbed again for a third straight week, further dinging demand as the housing market continues to suffer from an affordability crisis.

XLB
VNQ

Mortgage rates surge higher, further hurting demand

Oct 10, 2024, 12:46 PM

Mortgage rates rose sharply this week in their biggest jump since April, bringing the average rate for a 30-year fixed note to 6.32% as demand fell for a second straight week.

DHI
VNQ