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%...
Rates can’t be used as an excuse!
The rapid rise in interest rates have caught some off guard and are making a challenging market even more so. However, it’s important to put a few things into context.
- Rising rates are not unmanageable by a long shot, and rates in the 5% and 6% range are not going to cause a meltdown as...
Can the FED Just SHUT UP?
After more than a year if getting fiscal policy completely wrong and just making up stories about the economy, it seems the FED members all want the microphone and to share their opinions on how they are going to “fix” the very problem they created! Every time one of them speaks, the...
Credit - not just about the rate!
We are all aware that a person’s credit score impacts their ability to obtain a mortgage; it dictates the cost of that loan if they qualify. However, very few people focus on all the factors involved in a credit score. Further, while many people think that they are “good” if...
You can make excuses, or you can work and WIN!!!
So much information about how bad the market is or how interest rates are going higher and that is going to kill the market. Well, those are EXCUSES made by the many who refuse to do what is needed to WIN! And believe me, people out there are WINNING every single day!
Higher home prices are not...
Luck of the Irish
With all kinds of pressure of mortgage rates and housing prices, it would seem all potential home buyers could use a little luck of the Irish in pursuit of their next home. Since I don’t have access to a Leprechaun or the Blarney Stone, we are going to have to manufacture some luck of our...
Work with what is WINNING!
Some people are looking at poor fourth quarter results and first quarter projections that are downright abysmal. You have a choice to make, you can complain about interest rates and inventory, or you can work with what is winning!
It’s easy to complain, it takes work to win! If you are busy...
Whiplash
Boy, you can really get a bad case of whiplash given the market volatility and the revisions to numbers around job creation. It almost is too much to handle when the MBS market bounces around fifty or sixty points a day in either direction, job revisions are in the hundreds of thousands of jobs,...
Numbers, Math, & Observations
We had a great deal of interesting information in the January housing report. Some of it makes complete sense, while other data is interesting. Existing Home Sales were up 6.7% in January, and it is estimated that there will be 6.5 million units sold in 2022. While forecasting sales for new...
Not 5% YET!
Not 5%, YET
We have talked about rising interest rates quite a bit and how to share the actual information and how to do the math about the real costs of higher rates as well as the real costs of waiting! However, some people are having a tough time on how to go about bringing up the conversation...
