Remember Those High Pandemic Lumber Costs?

Today in Mortgages

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard talk about some of the factors that are currently bringing down home prices. New homes are slowly becoming more affordable for median earning Americans, and one of the main factors contributing to this trend downward is lumber costs. According to this article from National Association of Homebuilders, "Prices and trends in the U.S. framing lumber market," lumber prices have dropped about 6.2% year over year.
Some ways we can continue to bring down lumber prices include 1) reducing tariffs on Canadian lumber which help keep the prices competitive, 2) there is lobbying to open up some federal land for logging, and finally 3) to reduces exporting some of our lumber to China and other countries. The speed of all these factors lowering prices won't happen over night as these things take time. But, we believe this is a good reminder that home prices aren't all dependent on rate.
Listen in as we discuss this and more!
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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.
The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation.
Visit our website at nflp.com/licenses for all state licensing and other legal information.

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Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.
The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.