/biz/ - Business & Finance

>>56570930
>Applications for Adjustable Rate Mortgage (ARMs) make up 9.2% of all mortgage applications
>Applications for a mortgage to purchase a home were 22% lower year over year.

No

>>53126261
>10% of homeowners have an ARM

only 10% of APPLICATIONS in 2022 were ARMs, because a small percentage of buyers are betting on rates being lower than 6% when their rates reset 5 years from now.

40% of homes are paid off completely, and of the remaining 60%, just about everyone has a rate below 5%. there were 3-4x as many home buyers in 2020 and 2021 compared to 2022. every one of those buyers has a rate below 3.5%.

refinance applications in 2020 and 2021 were more than double what they were from 2014-2019. all those people have rates below 3.5%

people who bought between 2009-2012 got their properties for pennies and have them paid off by now.

there is NOTHING indicating a dumping of properties on the market, all indicators are pointing towards supply being reduced (which increases price)

october 2020 had 6.8 million existing home sales. october 2022 had 3.6 million and the number has fallen for 9 consecutive months.

just another dumbass zoomer with zero quantitative data or knowledge of the market who is priced out and coping