Data shows solid interest!
The numbers continue to show that people, especially millennials, are interested in home ownership. Despite higher home prices and higher rates, loan applications are still strong for home purchase loans. While refinances are significantly off year over year due to higher rates, purchase application...
Information & Interpretation!
The FED FINALLY woke up and took a positive step toward dealing with inflation. Despite being less than what I would have liked to have done, 75bps and another likely 50 to 75 bps again in June should signal to the markets a serious approach to fiscal stability. The future remains to be seen, but th...
Opportunity Knocks
When opportunity knocks, answer the door!!! As the mortgage industry goes through another series of changes, you need to know how to take advantage of these changes.Â
We have talked about the purchase to refinance balance for all originators. Never has that balance swung so far to the refinance sid...
When everyone is wrong!
It is very hard for markets to find their way when those in power and in control are just so WRONG all the time. When the former FED Chair and now Treasury Secretary Janet Yellen, someone who should know things about economic issues, absolutely gets inflation so incredibly wrong that she states that...
Planning for Summer
As May ends, people begin their thoughts of summer. Mortgage professionals are no different. Anyone who knows me and works with me understands I stress the value of vacations and time away from work unplugged. I push for a minimum of two full weeks unplugged from the work arena and a series of at le...
We need to ask WHY?
Are they facts, or are they excuses? Are the reasons people are not getting what they want, or even afraid to TRY and get what they want, based on the facts, or are they fiction?
I just wanted to pose three questions today and have you just think about them and maybe do a little of your own investi...
It's NOT that high!
People are really complaining about mortgage rates. I understand that nobody likes when things get more expensive, but the truth of the matter is, rates are NOT that high! Yes, they are higher than they have been recently, and yes, you do have to go back to 2009 to find average mortgage rates in the...
News and nonsense!
Happy Cinco de Mayo!
The Fed raised interest rates yesterday by 50 basis points and signaled a reduction in the Fed balance sheet. While it was a good start in heading where they need to go, it’s about a year late! As expected, the bond market is happy with the announcement and while there may be s...
Strategies that keep WINNING!
As social media continues to scream about how bad the housing market is, how interest rates are going to cause the next housing bubble, and the list goes on an on. I feel the pain of those trying to tell the truth and explain the reality. The good news is, the reality, while not as good as it once w...
Know all the numbers!
We get the weekly mortgage application numbers and the existing home sales numbers, and they are weaker than last year, no big surprise, but of course everyone has to start screaming “Housing Bubble” and creating all kinds of drama.
There was no surprise that refinances are down 68% year over year,...
