Celia Chen Quotes (9 Quotes)

During the holiday-shortened week, the MBA may have overcompensated its seasonal adjustment of the data.

Even if interest rates weren't rising, home prices are very high relative to income. So, people are getting priced out and rising mortgage rates are making it worse.

We see a slowing in home-price appreciation. But some markets could see a significant decline.

It's pretty clear that housing is slowing. Rising mortgage rates and the very fast rising homes prices are constraining home buying. Homes are still considered affordable, but not as much so as a year ago.

There is a strong push among immigrants to purchase homes. About a decade ago, this country had a surge in immigrants who have only recently begun the home buying process.

In order to purchase a home, a lot of people have to resort to risky mortgages.

Mortgage lending is an opportunistic business and when business declines, the instinct is to consolidate to become more efficient, and that is what we are seeing.

People who spent money on travel and luxury goods are spending more money entertaining themselves at home.

I do not think this is indicative of housing being strong, but rather that fact that people are expecting rates to rise and they are taking advantage of that.