More Art Than Science, Utah Stumbles and Paper Ass Gaskets

<p>According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage interest rates fell for the third straight week, while mortgage demand also rose again. Total application volume increased 7% last week compared with the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.2% from 6.23%, with points increasing to 0.69 from 0.67 (including the origination fee) for loans with a 20% down payment. That rate was just about half that one year ago.</p><p>In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the housing market and the economy as a whole.</p><p><br></p><p>They discuss data released by the Salt Lake Board of Realtors on their UtahRealEstate.com website, which states that Utah’s most populated county, Salt Lake County, has seen its first year-over-year decline in housing prices since 2011.</p><p><br></p><p>Chris and Saied look at Goldman Sachs' forecast of record drops in San Diego's home prices, saying that home values will fall at levels similar to the 2008 crash. The predictions indicate that San Diego, San Jose, Austin, and Phoenix will see declines of more than 25%.</p><p><br></p><p>They also offer some thoughts on the rise of fourth-quarter gross domestic product of 2.9%. Economists surveyed by Dow Jones had expected a reading of 2.8%.</p><p><br></p><p>Join Chris and Saied for this fascinating and informative conversation.</p><p><br></p><p>Enjoy!</p><p><br></p><p><strong>What You’ll Learn in this Show:</strong></p><ul><li>Why the World Economic Forum is not a true economic forum.</li><li>Why GDP is a good indicator for a recessionary economy.</li><li>The concept of student loan forbearance.</li><li>How the Federal Reserve pulls money out of the system.</li><li>And so much more...</li></ul><br/><p><br></p><p><strong>Resources:</strong></p><p><a href="https://www.instagram.com/p/Cn4Rh1iu70D/?igshid=MWI4MTIyMDE=" rel="noopener noref