Home Purchase Cancellation Rocket to 16.6%

[Anonymous]

Highest since March 2020. In other words - financing is falling through.

[Anonymous]

Good! Maybe this will force interest rates to decrease, and sellers will finally understand their home will not appraise at 2021 prices. If they want to sell their home they need to lower their price.

[Anonymous]

Anonymous wrote:Good! Maybe this will force interest rates to decrease, and sellers will finally understand their home will not appraise at 2021 prices. If they want to sell their home they need to lower their price.

Its also the slowest sellers' market...I mean in general its still slow.

[Anonymous]

what's triggering those? The article this comes from gave multiple bases for cancellations, not simply financing costs (disagreements over necessary repairs, etc.)

[Anonymous]

So… from 13ish in “normal” times to 16? Not the smoking gun you seem to think it is friend

[Anonymous]

Anonymous wrote:So… from 13ish in “normal” times to 16? Not the smoking gun you seem to think it is friend

Considering March 2020, when the world ended, is the same percent - it is.

[Anonymous]

It’s good that people are being rejected for mortgages they can’t afford, instead of what got us into trouble last time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So… from 13ish in “normal” times to 16? Not the smoking gun you seem to think it is friend

Considering March 2020, when the world ended, is the same percent - it is.

Alternatively a normal person could conclude the pandemic didn’t kill many deals.

[Anonymous]

Anonymous wrote:It’s good that people are being rejected for mortgages they can’t afford, instead of what got us into trouble last time.

That is a point.

[Anonymous]

Anonymous wrote:Highest since March 2020. In other words - financing is falling through.

People are getting caught up in the moment and although they may be willing to be "house poor" the lenders aren't willing to take risks on those buying out of their range.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Highest since March 2020. In other words - financing is falling through.

People are getting caught up in the moment and although they may be willing to be "house poor" the lenders aren't willing to take risks on those buying out of their range.

Smart. I'm curious if financing is falling through at the bidding stage or just that their numbers aren't adding up.

[Anonymous]

Anonymous wrote:Highest since March 2020. In other words - financing is falling through.

Plots should start at zero.

[Anonymous]

I heard people are fraudulently adding others to their mortgage application. Watch out so they don't ruin your credit karma.