According to Freddie Mac, the recent decrease in mortgage rates could increase the buyer pool for a $400,000 loan by nearly 3 million consumers. This will help rejuvenate the US housing market.

Despite the Fed’s hawkish tone last week, mortgage rates dropped when a 25 bp increase was announced. The market viewed this announcement favorably as it signalled that inflation is growing more slowly and the Fed is comfortable with the direction of the economy.

The US unemployment rate fell to the lowest level in 53 years. The Bureau of Labor Statistics reported that the unemployment rate dropped to 3.4%. The US economy added 517,000 jobs, which topped Wall Street estimates across the board.

Blackrock inks partnership for asset tokenization - “Tokenization offers a variety of benefits, especially when it comes to transparency, as tokenized securities can be tracked and accounted for using the public blockchain ledger.”

The pandemic is likely to have a structural, long-term impact on housing demand - This analysis highlights the fact that the surge in housing demand is indicative of a larger change in household behavior.

Mortgage rates are projected to drop - Lower mortgage rates are expected to entice first time buyers back to the market.

Even as interest rates rise, consumer credit remains resilient - Despite recent increases in interest rates, delinquencies remain well below historic averages which bodes well for the overall market.

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