Ten-year rate hikes freeze up sellers in property markets; Monthly Statistical Update (June 2023)

The Monthly Statistical Update (MSU) keeps agents and brokers current on the market trends affecting California real estate transactions.

This month, we’re covering:

• the rising Federal Funds rate, which is directly causing adjustable rate mortgage (ARM) rates to jump in 2023;
• rates on mortgage insurance from private insurers contrasted with the FHA, making mortgage borrowing even more expensive for homebuyers lacking a full 20% down payment; and
• values and returns on real estate investment trusts (REITs), which have plunged following the rapid pandemic-era price hikes.
  

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