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00:00 We also saw in the US economy the continued intensification of the US federal monetary policy since March 2022 and the rise in interest rates.
00:12 How was its reflection this time on real estate and the rise in interest rates was a pressure on the demand for real estate in the United States.
00:21 We look at the details related to this. At first there was a decrease in the size of real estate demands in the last week on September 8th and therefore by 18%.
00:34 This comes as a result of a decrease in the demand for re-funding by 5%.
00:40 We also have the preservation of the owners of houses to sell and buy a new house at a higher price.
00:46 This was also one of the factors that affected during this period. We notice that this led to a record 7 weekly refunds in two months and therefore at the lowest level since 1992.
01:01 These refunds also come on the psychology of investors in the real estate sector as a result of the rise in interest rates, which today have reached levels of 5.25% to 5.5%.
01:12 But it must be considered that the markets are now rising today in relation to the federal decision in the September meeting, which may be there is a confirmation of interest rates,
01:22 but the inflation pressure and the rise in inflation rates are still affecting and moving away from the US federal targets.
01:30 The latest data we heard about inflation rates in the United States in August, we also noticed the continuation of the rise in the real estate sector this time.
01:40 We noticed these levels that this indicator continues to rise for the next 40 months.
01:46 The rise in interest rates, as we mentioned, therefore affected the real estate loan for 30 years.
01:51 Therefore, we notice that in the first of September it was 7.21% to 7.27% in the eighth of September.
02:01 So there was an effect of the rise in interest rates on the real estate loan and also the psychology of investors in investing in this matter.