Today in Mortgages

Welcome back dreammakers! In this episode of "Today in Mortgages," we are looking forward to the coming months projections. We always love to see growth, but today's article from National Mortgage News: "How the home price forecast is changing." There are regional trends around the nation where markets grow and shrink, but overall Fannie predicts price growth will slow in...

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about the wide-spread affects of interests rates. We look at an article from CNBC: "Weak manufacturing measures raise specter of U.S. economic slowdown". Reports are showing the economy contracting due to lower demand. This is another indicator of what the economy is doing, and supports the fed rate cut...

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about inventory dropping due to rates rumoring to come down. Generally, this time of year purchase applications decline, but that's not happening now with decreasing rates. Housing Wire's article: "Housing inventory falls as mortgage rates drop" discusses the inverse relationship between demand...

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about why builders are weary despite homes sales rebounding according to today's article from Zillow "New home sales rebounded more than expected in July." Builders have been aggressive trying to get rid of inventory with incentives so we aren't surprised people are buying new builds. New home-...

In this episode of "Today in Mortgages," we discuss starter homes and why they are a bight spot in this economy according to today's article from Redfin: "Starter homes emerge as bright spot as mortgage rates settle near 15-month low." Interest rates are down which is giving buyers a little buying power... which is especially good news for first-time home buyers. Starter h...

In this episode of "Today in Mortgages," we break down the recent job report revision; there's a lot less jobs than initially reported. It is normal for the BLS report to have small revisions after the fact but this particular adjustment is more significant. The fed uses these reports to guide their decisions on when to cut rates. Employment has been everything when making these dec...

In this episode of "Today in Mortgages," we talk about $25,000 tax credits proposed by the Harris campaign and whether we think they will help or hurt. We discuss this and Fox's article "Waiting for mortgage rates to fall? Why Experts say it won't make a difference". The article believes that lowering rates will make buying more affordable for only a few months; price...

In this episode of "Today in Mortgages," we discuss PPI, refinances and rate cuts! Great news, the increase we saw for inflation was tied to PPI which is good for the housing marketing (Fed will look at these numbers in their next meeting). Shelter inflation accounts for 90% of price increases, and now that we are below the 3% inflation mark for the first time since 2020, we are hoping t...

In this episode of "Today in Mortgages," we discuss if we are finally getting a relief in interest rates. This week has had a lot of volatility in the marketplace, and people are asking why? To help explain, Rich teaches on the relationship between the 10 year treasury and interest rates, and why when rates drops, the treasury starts to fall as well. Ultimately, there is a lot we don&apo...

In this episode of "Today in Mortgages," we take you behind the scenes of Network Funding to see how we coach up our people. We are taking a look at Rich's latest video to the company about market volatility over the last week, and how we should respond as Loan Officers. His key takeaway is to make sure we are quoting accurate rates to protect our borrowers and NFLP against this vol...

In this episode of "Today in Mortgages," Michael and Richard dive into the recent Federal Reserve meeting and the surprising number of real estate deals that fell apart in June. They discuss key takeaways from Jerome Powell's speech and analyze the implications for the mortgage and real estate markets. Key Topics: 1. Federal Reserve Meeting Insights: – Jerome Powell's optimisti...

Welcome back dream makers, today we are discussing what the fed will come up with in their meeting today. We hope they are discussing a rate cut and if so, it likely won't be before September. CNBC's article "The first Fed interest rate cut is on the horizon. Here's what homeowners, buyers need to know." The crux of this article says that some of these rate cuts we are ant...

Welcome back dream makers, today we are discussing what's a lame duck housing market. CNBC's article "Mortgage demand drops, as homebuyers wait for lower rates" hints that consumers don't want to accept these high rates. Incoming data shows inflation rates have come down significantly, as we all anticipate rate cuts coming soon. We've personally seen demand dropping i...

Welcome back dream makers, today we are discussing if delinquencies are becoming a problem and what that means for housing. We are giving today's article "Mortgage delinquencies hit a six month high in June, but it's not as bad as it looks" mixed reviews. It has some truths but also takes a negative perspective that could be misleading. It is true that delinquencies are up, whi...

Welcome back dream makers, today we are discussing homeownership. We are looking at Housing Wire's article: "Is this the best evidence for a home ownership problem?" The article finds there is a gap between home ownership & households -- a household refers to two or more related people. The data for household homeowners has been consistent over the years, but overall homeowners...

Welcome back dream makers, today we are asking the question: Are we in a housing bubble? We've talked about inventory a lot on this show, because it is low and that is a critical piece of housing. Today's article from New York Post Today declares "Massive housing bubble about to burst in this US region, warns a real estate expert -- see where." This region includes south Texas...

Welcome back dream makers, we've been talking about the lack of inventory for a while now, but the biggest reason people are not moving is due to high interest rates. Today's article from CNBC.com wants us to consider the influx of inventory we are seeing: "It suddenly looks like there are too many houses for sale. Here's why that's not quite right." Yes, there is mor...

Welcome back dream makers, this is Today In Mortgage! We are discussing what historically happens to housing during election years. To do this, we are specifically looking at home sales, home prices and interest rates according to today's article from Keeping Current: "How will the 2024 election affect real estate." Traditionally, home sales decline due to people waiting to see what...

Welcome back dream makers, today we are discussing voters and housing! We are in election season, and today's article from Housing Wires says housing is a top issue for voters. Specifically, affordability is the main issue, which is effected by rates, regulations and inventory. Last week we discussed rates and how the president really can't influence rates, but loosening regulations, giv...

Today in Mortgages we discuss if the presidential election can change the course of residential housing. There is hype around the election and today's article from Yahoo Finance wants us to consider "What the housing market could look like if Donald Trump wins the 2024 Presidential election." But we don't see how any single person could fix the market, considering the president...

Today in Mortgages we discuss which generation is paying the most for housing. Across the board everything was less expensive for older generations from home prices to college to household goods. A surprise is that it cost less household income-wise for the younger generation. Millennials are paying 23% of their household income for housing verses 33% of the medium household income in 1980. But to...

Today in Mortgages we discuss how housing plays into inflation. Yesterday Powell discussed "sticky shelter inflation" referring to high shelter costs, which make up about 30-40% of CPI. Shelter includes rent, insurance, hotels, and personal residences. Powell discussed whether cuts can come while housing inflation is still elevated and hinted at only one rate cut this year. Ultimately, w...

Today in Mortgages we dive into the current state of credit card debt with the average interest at 26% or above. There is a disconnect between employment and earnings. Today's article from the AP News: "Borrowers, especially the young, struggle with credit card debt in potentially bad sign for the economy," focuses on the younger generations, who have higher utilization of the credi...

Today in Mortgages Rich Jefferson is here in the studio! Several news articles today are talking about prices coming down. The tide is shifting, and sellers are starting to concede on home price with cuts. A contributing factor is the increasing inventory, but even with price cuts, home price growth is still above average. This is great news for your buyers who need prices to soften with these hig...

Today in Mortgages we dive into whether we may be seeing lower home prices this year. Fox business, states that home prices are being "slashed" in today's article. The article finds that prices are slowing due to more competition amongst sellers. There is still record low inventory even if prices are softening. Fannie Mae believes interest rates will remain at or above 7% this year,...