PDX Real Estate 141: Mark Aalto on Why Interest Rates Are on the Rise - a podcast by Tucker Merrihew of TTM Development Company and Steve Nassar of Premiere Pro
from 2022-03-21T14:00:54
A lot is happening in the world right now. The bond market took a dive, interest rates are rising, inflation is prominent, gas prices are up, and there’s a war in Europe.
All of these things are interconnected, so how are they going to affect the real estate market going forward?
Mark Aalto is a lender and economic forecaster who gives great insight into things that are commonly known among lenders, but might be new, helpful information to realtors. On this episode of the Portland Real Estate Podcast, Mark joins cohosts Steve Nassar and Joe Fustolo to discuss the current market and his predictions for the rest of 2022.
Mark shares his perspectives on current events in the real estate industry, how the stock and bond markets affect interest rates, and how the industry is accounting for an appraisal gap in the homebuying process.
Listen in for insight on why interest rates stayed low throughout the pandemic and have now increased significantly since the start of the year.
Key Takeaways
Why the stock and bond markets heavily dictate financing rates
How financing rates have increased significantly since the beginning of 2022
How rates have fluctuated with the stock market throughout the Covid-19 pandemic
Why Mark would rather do purchases than refinancings with his customers
Mark’s perspective on the current state of the bond market and how it is affecting interest rates
Mark’s predictions of what rates will look like throughout the rest of 2022
Mark’s experience with loan programs and why they are typically underwhelming
Why buyers cannot get recast for government loans and need to go directly through the lender
The details of a federal judge recently blocking the new Oregon law banning “love letters” from prospective homebuyers and what that means for the future of the buyer/realtor relationship
Mark’s perspective on the appraisal system and how the industry is accounting for an appraisal gap
Connect with Mark
Mark’s Team on Advantage Mortgage
Connect with Joe
Connect with Steve
Steve’s Team at Premiere Property Group
Resources
Further episodes of The Portland Real Estate Podcast
Further podcasts by Tucker Merrihew of TTM Development Company and Steve Nassar of Premiere Pro
Website of Tucker Merrihew of TTM Development Company and Steve Nassar of Premiere Pro