No cash out volume is now at its lowest level of the 2019-22 period due to rates having more than doubled (+4 1/8 ppts) since the beginning of 2021, resulting in refi burnout. Volume in 2022 weeks 42 is down 94% from 2021.

While in the midst of the most rapid slowdown in Home Price Appreciation (HPA) since the bust of 2007-2011, demand pull inflation continues to exert a strong influence on general inflation.

HPA declines seem most likely at the high end of expensive markets, at the low end of some FHA markets, and in metros with stagnating or declining job growth.

While in the midst of the most rapid slowdown in Home Price Appreciation (HPA) since the bust of 2007-2011, demand pull inflation continues to exert a strong influence on general inflation.

The real estate market continue to transform, but there will always be a need for affordable housing. It is imperative that real estate professionals help all consumers enjoy the ability to own real estate.

"Too much money chasing too few goods." (Watch closely as the FED dumps Assets in the next few months).