Wells Fargo lays off home lending unit

2d 9 Comments

What sign is this for the housing buying / selling market?

TC:120

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TOP 9 Comments
  • New
    !&-/

    New

    !&-/
    What do you want to hear? You will be better person to enlighten us
    2d 2
  • Amazon
    wedB38

    Go to company page Amazon

    wedB38
    The sign here is that rates are going up. Nobody is refinancing as much and purchases are going to start drying up. They're trying to plan ahead
    2d 0
  • Airbnb
    TC || GTF0

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    TC || GTF0
    They will rehire once rates lower. No point in keeping people around if mortgage rates are going up to the moon and noone plans to refinance.
    2d 0
  • New
    ArindamBad

    New

    ArindamBad
    That means mortgage rates are expected to stay higher for a year or more. Home sales will be slower- upgraders have to stay put, sellers may wait to sell, buyers will wait for prices to fall since they lost affordability and a new normal will be set. Things will turn from a seller's market to buyer's market in about 6-12 months.
    2d 2
    • New
      epic0018

      New

      epic0018
      Confident enough to short REITs?
      2d
    • New
      ArindamBad

      New

      ArindamBad
      Not so much on REITs but shorted ZG, open and made money. Time to focus on REITs and short them.
      2d
  • eBay
    akpman2

    Go to company page eBay

    akpman2
    When rates go up, refinance activity goes down. Home buyers for the first time will continue to buy.
    2d 0