Realtor Mortgage Market Update

Happy New Year and Welcome to 2021 ! Before 2020 ended Housing appreciation and year over year sales roared ! Will Georgia elections affect mortgages rates ? And if the Democrats sweep Georgia, how is VP elect Kamala Harris the tie breaker ? #remmu

Two things that will change 2021. Why bonds move lately without economic news. 1st public Pfizer vaccine given, and who is moving back in with mom and dad.

I predict the public Will start receiving covid vaccine by 12/15. Rates improved last week. Today, 3rd Vaccine announced.

Still no new President and unemployment numbers.

Why rates went up on Election Day and why they came back down and why taxes should not go up even if Biden wins the presidential election.

Will rates come down further ? What could move the markets this week ?

Appreciation and how you can quantify it for your customers and much more.

No deal yet between Fancy Nancy P and Mnuchin, average demand for today's 20 yr bond auction, mortgage applications down, and 4th day in a row that rates have increased.

Are we at the beginning or mortgage increasing ?

Two things that will put you above the crowd as a real estate agent or as a lender.

How can Trumps health impact mortgage rates. How can a new stimulus impact rates ?

Jobs and Inflation and what they are doing to mortgage rates.

Even more good news for housing as Nationwide appreciation data in released

More good news for housing and some good news for unemployment

More real estate agents today than 1 year ago. New great and still great rates

God bless America on this 9/11.

Bidding wars, overcoming overbidding, and rates.

Jobs jobs jobs. See how rates made out.

Appreciation up 5.5 % year over year and 1.2% just in July...are you kidding me ? Call every buyer you had in the last 24 months and give them the great news.

MBA Purchase Data slightly up and the FHFA scam !

Don't let the media fool you. Price index up, median price up, appreciation up, but where is consumer confidence. #remmu

Existing Home Sales, which measures closings on existing homes, were up an impressive 25 percent in July. These are closings and likely represents buyers that signed contracts in May and June. This the largest one month jump in the history of the existing home sales survey, going back to 1968 and remember that the June report was up 20.

Yesterday we had a lousy 20 yr auction and the Fed minutes were released but despite all of that we ended the day on the plus side.

The Senate adjourned for its August recess on Thursday, joining the House, as Republicans and Democrats remain $1 trillion apart on a coronavirus relief package. And here is the real tragedy let's say law makers come back and do work out a deal...#remmu

Initial Jobless Claims are released and for the first time in 21 weeks, claims have fallen below the 1 million level.

Rates on the way up. Is it time to hit the panic button ? Bidding wars in over 50% of contracts.

Get to your commissions fast.

Rates went up today, and I think Bonds are at a position where they are due for a pullback. And who knows what will happen this afternoon after the Fed is done buying mortgage bonds for the day. You and your customers have not missed yet, My team and I are here to help you.

Real estate will lead our economy out of this pandemic.

The Core rate, which is most important and what the Fed focuses on, is well below the Fed's target of 2%. And with inflation so low and declining, it provides the Fed with cover to continue Quantitative Easing without the fear of inflation. Something very interesting Within the report, Personal incomes fell 1.1%, while Spending increased by 5.6%.

Initial Jobless Claims are released and for last week 1.434 Million individuals filed for unemployment benefits for the first time. This was about 12,000 higher than last week and the second week in the row of rising claims. This Should not be a surprise as some states are reclosing things and we are running out of PPP funds. On the Continuing claims front, those continuing to receive benefits, also increased from 16.79 Million to 17.018 Million.

Pending Home Sales, which measures signed contracts in existing homes, were up 16.6% in June after

New Home Sales which measures signed contracts on new homes, rose for the third straight month, as new home sales were up 13.8% in June, which was much stronger than the 4% gain anticipated. Sales are now up 7% year over year And that is What's most impressive to see.

18 straight weeks of a million plus, a tentative $1 trillion deal, and 20% of the U.S. workforce receiving benefits.

Will home sales slow down and if so, when ?

Unemployment still massive. How much is it people making more not working and how much is it fake claims ?

Purchase applications down, refinance applications up. Moderna brings hope to COVID-19 as all 45 participants produced. antibodies

30-days or more delinquent, up from last month. Those seriously delinquent (meaning 90 days or more delinquent), remained at 12%. Homes in foreclosure dropped from 0.4% to 0.3%...but you won't see the longer term effects until later as that 3.6% spike I mentioned earlier, in 30-days or more will likely translate to more 90 day delinquencies. The foreclosure drop is likely due to forbearance, which has been giving people a lifeline and lets hope this lifeline does not turn into as they say, kicking the can down the road.

Are Investors looking past rising coronavirus cases and new shutdowns and instead are focusing on fiscal and monetary support from central banks and governments to lead to recovery and contain economic damage?

Another good day for Interest rates and did 32% of renters and homeowners really “miss their July housing payments” ? Really ?

Will home prices drop 6.6% from May 2020 to May 2021 ? What happened to a 1.3% drop ? https://www.corelogic.com/insights-download/home-price-index.aspx#:~:text=Home%20price%20growth%20is%20expected,0.3%25%20compared%20with%20April%202020.&text=Nationally%2C%20the%20for%2Dsale%20inventory,on%20average%2025%25%20in%20April.

Strong Jobs report moves rates minimally. More important was the jobs report accurate ?

I've been saying that the combination of Positive economic news and positive virus vaccine news will put upward pressure on rates. With today's news that Pfizer and BioNTech see early positive results for a coronavirus vaccine candidate, will a strong jobs report tomorrow raise rates ?

Home values and home sales are up but what will happens to your business when the market changes ? To grow your future business today do to www.agentmarketingbook.com

Existing Home Sales and Contract signings to purchase existing homes in the U.S. surged in May by the most on record. The National Association of Realtors' index of pending home sales increased 44.3% to a three-month high , after falling 21.8 percent in April, the largest single month plunge on record, right after the second highest fall of 20.8 percent in March.

Stocks opened lower amid concerns of new restrictions on reopening the economy as the U.S. saw another single day record in daily coronavirus confirmations. The total number of cases has exceeded 2.4 million, primarily in the southern and western states.

Unemployment still massive, continuing claims still massive and how long can these historic low rates last ?

Real Estate agent have been attacked, raped, and even killed. This 1 tip can literally save your life.

It's the U.S. -Chine deal over? Why did the market go on a wild ride Monday night ? Great resource / tool for realtors and it's free www.agentmarketingbook.com

The Fed has been buying more of the 2% coupon lately. If the Fed keeps this up, it could work out well for interest rates.

On a year over year basis, purchase applications are 21% higher, which is my comeback story of the year, after being down 35% year over year back in April. Americans stuck at home are looking to upgrade their properties, in some cases, move away from cities and One thing I did not mention yesterday regarding the National Association of home builders report is that The NAHB is citing an urban to suburban move being made by many.