Today in Mortgages

Welcome back dream-makers! On today's episode, we discuss:  CPI data released with unexpected results: CPI at 3.1 instead of the expected 2.9. Market reaction: Initial optimism turned into a sell-off, pushing expectations of rate cuts further into the future. Impact on housing costs: Real data in housing and hotels driving inflation, creating a challenging situation for lowering rates. Challe...

Welcome back dream-makers! This is "Today In Mortgage!"  and we're breaking down the collapse of Evergrande in China and how that affects the US housing market. They lack demand on their new builds; the opposite of the US's problem of high demand and not enough housing. An article from Housing Wire discusses the ripple effect of this failed entity in China on the US housing mar...

Welcome back dream-makers! This is "Today In Mortgage!"  and we're breaking down the Fed's latest meeting with help from today's article from CNBC: "Fed recap: Powell shoots down March rate cut." This is not what we all wanted to hear: the fed was reliably "noncommittal" about future rate cuts. They may be holding out on rate cuts because consumer price...

We're talking politics on "Today In Mortgage!"  based on this article from The Hill titled: "Democratic senators call on the fed to cut interest rates over high housing costs." Our team breaks down this headline, and finds yes, the federal reserve is accountable to congress, but their main job is to keep employment high and prices stable. Those pushing on the fed to lower...

Welcome back dream-makers! Today we look at an article from Fox Business titled "Mortgage demand rises even as mortgage rates increase." We are finding that demand is outweighing the mortgage rate environment. Consumers might not know the exact rates, but they know they are down from the highs of last fall. 2024 could be closer to a normal volume year, with numbers closer to before the p...

The Mortgage Banker's Association just put out projections for 2024, and things are looking up for the industry this year. Listen in as we discuss rate, inventory, and loan volume projections for the year ahead.  Grow Your Business: https://join.nflp.com/ ______ FREE MARKETING RESOURCE: https://todayinmortgages.com/marketing _________  Today in mortgages is produced by Network Funding, LP, wh...

Today on "Today In Mortgages" we discuss how politics will affect mortgage rates. Presidential nominees are making lots of promises when it comes to interest rates according to today's article from The New York Times, but the Federal Reserve is independent from the president. A president can affect future policy but they cannot control rates directly. As mortgage professionals, we n...

Today on "Today In Mortgages" we discuss where home prices are headed in 2024. We take a look at an article from Housing Wire: "Fewer homes will take a price cut in spring 2024." The article states high interest rates slowed housing demand, but with rates dropping that could all change. Our company is already seeing applications going crazy for purchases.  As mortgage professio...

Happy New Year! Today on "Today In Mortgages" we discuss an article from CNBC stating that mortgage demand is down 9.4% for the final week of 2023. But, we all know the end of the year is filled with holiday festivities, and most people typically don't spend the holidays filling out loan applications. We have a bright and optimistic outlook going into 2024, and you should too! As mo...

Today on "Today In Mortgages" we discuss a sound bite from NPR's Marketplace Podcast that discusses whether high home pricing is the cause of pessimism concerning the economy? As we've seen inflation come down, the Fed has raised rates to accomplish that. The one exception to that is housing. Anytime you bump interest rates, you're going to see inflation in housing. But, w...

Welcome back dream-makers! Today, on "Today in Mortgages," we talk about Housing Wire's article "Democrats to introduce bills to ban hedge funds from single-family housing market."  Government is getting involved in who can and can't own real estate. Hedge firms own lots of property, which single-family homebuyers would love to own. Democrats want them out of the sing...

Welcome back dream-makers! Today, on "Today in Mortgages," we talk about lowering interest rates, and if it's too soon to be celebrating? Today's article comes from Fox Business: "Mortgage demand jumps again as rates fall to the lowest level since August." We've seen a couple weeks of rate improvements, which is good for inflation... the Fed's plan is workin...

Welcome back dream-makers! Today, on "Today in Mortgages," we talk about an online article from Mortgage Reports titled "What is the Biden Neighborhood Homes Investment Act?". The white house has put together a plan to bring more relief to homebuyers: remodeling homes and providing funds for down payment assistance. This is still just a proposal and hasn't been voted on ye...

Today, on "Today in Mortgages," we talk about Mortgage New Daily's article "Purchase Applications Increase as Rates Hit 10-Week Low." This has been a really tough year in the mortgage industry, but this is also a good opportunity to gain some ground with prospecting. This is traditionally a slower time of year for our industry, but loan applications are up and rates have c...

Today, on "Today in Mortgages," we talk about falling home prices, and its affect on buyers according to Newsweek's article "Home prices are falling. Are buyers biting?" While this article has good points, we discuss that home prices are only dropping in certain areas; not everywhere. Demand is still too high to have pricing fall. It's important to remember that this...

Today, on "Today in Mortgages," we look forward to what 2024 will look like in the mortgage industry. Today's article predicts home sales will rise next year and interest rates will lower. We weigh in on if we think these projections are realistic.  As mortgage professionals, we need to make sure we are informed about the housing market, so we can coach our borrowers and help them s...

Today, on "Today in Mortgages," we discuss a proposed change to credit reports by the FHFA. The FHFA wants to go from three credit scores that are typically pulled to two credit scores. We think more homebuyers could be left out, because not all creditors report to all three credit bureau. This could lead to lower credit score, higher rates and higher fees. But one less report could hope...

Today, on "Today in Mortgages," we discuss renting to own your home and whether it's a good idea. This rising trend is used as a stepping stone to home ownership. The nice thing about renting to own, is you negotiate the purchase price today. In markets where prices are ever increasing, you can lock the price in today. A portion of your payment goes into escrow as savings toward a d...

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're talking about whether your primary residence is a good investment. An article from Yahoo Finance states that you shouldn't buy a home solely as an investment. Rich and I discuss this statement giving our opinions on the matter. We believe buying a home for most middle income families is their primary investment, a...

Happy Halloween!  Today, on "Today in Mortgages," we're just having fun talking about all things sPoOkY. We discuss a fun survey from Zillow that says up to 70% of Americans would buy a haunted house if it was at a reduced price. Would you do it? What would it take? We know the housing market feels haunted, but it's not that scary! As always, we as professionals need to talk wi...

Today, on "Today in Mortgages," we're continuing our conversation about what buyers are doing wrong when home shopping.  We look at the second half of Tuesday's article today from Realtor.com "10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today." 6) Failing to check your credit score 7) Picking the wrong type of loan 8) Understanding fees involved outsi...

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're talking about what buyers are doing wrong when home shopping. The old adage: consumers are always right is still correct, but the problem is, they don't aways know the answers. Our job as loan officers is to manage the borrowers fears and questions, while kindly advising them.  We look at an article today that tal...

Welcome back, Dreammakers! Today, on "Today in Mortgages," we're diving into the world of mortgage and real estate news to find out what's real, what's just hype, and what you should really be paying attention to. I'm feeling a little upside down in this world, but Rich is here to steer the ship, thank goodness. We've got a hot topic today - home foreclosures. Ar...

Today in Mortgages we give you an inside peek of how we are talking to our people about the rising rates. It's important to understand what's happening in the market so you can help explain it to your buyers. Listen in as Rich coaches our team on the current volatile climate we are living in and what this means for our industry. _______  Grow Your Business: https://join.nflp.com/  ______...

Today we talk all about mortgages rates and existing home sales, looking at a chart from Visual Capitalists that highlights the divide between these two since 2016. Ultimately when rates go up, less homes get sold. Thankfully, these should level out over time, but we are in unprecedented times. Mortgage professionals need to get out there and educate buyers on the realities of the market, while al...