What does the upcoming interest rate increases by the Federal Reserve mean for the Arizona housing market? How is inflation impacting housing trends? What can we anticipate for residential real estate in the coming months and years as we continue to navigate through the economic impacts of the pandemic? And, perhaps most importantly of all, what does this mean for you?
We’re kicking off our second season of Financial Cents by doing a deep dive on a topic that’s at the top of everyone’s mind: the real estate market. In this episode, special guest Greg Hague, founder of 72SOLD and Hague Partners, joins Mitch Gutierrez, residential real estate mortgage lender, and host Brent Cannon, executive vice president and director of community banking, to talk about what’s driving the Arizona market and where things could be headed next.
In its simplest form, as Greg explains, the appreciation of real estate prices can all be traced back to supply and demand. “As interest rates have fallen over the past few years,” explains Greg, “that has obviously created a huge demand for housing…these historically low rates make homes more affordable, which has driven up demand.”
But things aren’t quite that simple, as there’s an added element of supply chain issues created by the pandemic, which is negatively impacting the supply of new construction just as demand is surging. And that’s where the Federal Reserve Board’s anticipated move to increase interest rates several times over the coming year comes into play, and it’s also where things get interesting.
“What most people don’t realize,” explains Mitch, “is that prime rates don’t really have a direct impact on mortgage rates. Mortgage rates are based off the 10-year treasury yield.”
So, where are things headed? Tune in to hear what Greg, Mitch and Brent have to say and what it all means for you.
Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.
Subscribe from your favorite podcast platform by visiting https://www.nbarizona.com/financial-cents/.
Check out more content Financial Cents content by visiting: https://www.nbarizona.com/financial-cents/
What does the upcoming interest rate increases by the Federal Reserve mean for the Arizona housing market? How is inflation impacting housing trends? What can we anticipate for residential real estate in the coming months and years as we continue to navigate through the economic impacts of the pandemic? And, perhaps most importantly of all, what does this mean for you?
We’re kicking off our second season of Financial Cents by doing a deep dive on a topic that’s at the top of everyone’s mind: the real estate market. In this episode, special guest Greg Hague, founder of 72SOLD and Hague Partners, joins Mitch Gutierrez, residential real estate mortgage lender, and host Brent Cannon, executive vice president and director of community banking, to talk about what’s driving the Arizona market and where things could be headed next.
In its simplest form, as Greg explains, the appreciation of real estate prices can all be traced back to supply and demand. “As interest rates have fallen over the past few years,” explains Greg, “that has obviously created a huge demand for housing…these historically low rates make homes more affordable, which has driven up demand.”
But things aren’t quite that simple, as there’s an added element of supply chain issues created by the pandemic, which is negatively impacting the supply of new construction just as demand is surging. And that’s where the Federal Reserve Board’s anticipated move to increase interest rates several times over the coming year comes into play, and it’s also where things get interesting.
“What most people don’t realize,” explains Mitch, “is that prime rates don’t really have a direct impact on mortgage rates. Mortgage rates are based off the 10-year treasury yield.”
So, where are things headed? Tune in to hear what Greg, Mitch and Brent have to say and what it all means for you.
Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.
Subscribe from your favorite podcast platform by visiting https://www.nbarizona.com/financial-cents/.
Check out more content Financial Cents content by visiting: https://www.nbarizona.com/financial-cents/