Ted C. Jones senior vice president and chief economist for Stewart Title Guaranty Co., shared his observations and forecasts for the housing market and title insurance industry during his presentation at the Tennessee Land Title Association’s Annual Convention April 10. October Research, LLC attended the presentation to hear what this title insurance industry economist had to say about a spike in rentals and how he expects interest rates to affect the housing market.
He said there has been a spike in the amount of renters versus homebuyers recently. This is a consequence of two factors. First, the Qualified Mortgage rule encourages a large down payment and high credit scores. College loans are also delaying home purchases.