Interview on CNBC: Discussing the New Normal for the Housing Market

Written by: FirstAm Editor on Nov 23, 2018 8:00:00 AM

First American Chief Economist Mark Fleming was interviewed on CNBC earlier this week and discussed the current dynamics at play in the housing market where rising mortgage rates have impacted both supply and demand.

“Homeowners don’t want to sell. You're financially disincentivized to sell your home because rates have gone up and you’d lose that low mortgage rate that practically every homeowner today has. So, those that don’t sell, don’t buy.”

First American Exchange Company, LLC a Qualified Intermediary, is not a financial or real estate broker, agent or salesperson, and is precluded from giving financial, real estate, tax or legal advice. Consult with your financial, real estate, tax or legal advisor about your specific circumstances. First American Exchange Company, LLC makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, and First American Exchange Company are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.