In this week's episode, George explains the definition of External Obsolescence and how it can affect the value of a property. He then talks about a recent aha regarding debt to income ratios and how they are currently affecting loans given the sharp rise in mortgage rates. George then talks about some new listings hitting the market this week, mortgage rates, the stock market, and a recent report showing that home affordability is nearing all time lows. Take a listen and feel free to reach out if you have any questions :) 

External Obsolescence Definition: 

https://www.realtown.com/blog/External-Obsolescence 

Front End DTI vs Back End DTI: 

https://www.investopedia.com/terms/f/front-end-debt-to-income-ratio.asp

New Listings: 

https://search.queenshometeam.com/idx/featured?per=100&srt=newest

Black Knight: As Home Affordability Nears All-Time Low Amid Spiking Interest Rates and Still-Rising Prices, Borrower Behavior and Preferred Products Changing

https://www.prnewswire.com/news-releases/black-knight-as-home-affordability-nears-all-time-low-amid-spiking-interest-rates-and-still-rising-prices-borrower-behavior-and-preferred-products-changing-301537005.html 

Today's Rates: 

https://www.bankrate.com/mortgages/mortgage-rates/