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News Brief l Patriots reportedly tried to trade for Jimmy Garoppolo at the NFL Draft l Closing Bell See omnystudio.com/listener for privacy information.

News Brief l Elijah Molden, Titans defensive back l Closing Bell See omnystudio.com/listener for privacy information.

In this Real Estate News Brief for the week ending October 23rd, 2021... the Fed's new rate hike schedule, a new wave of foreclosures, and a rent growth surprise for some single-family homes.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week with comments from Fed Chief Jerome Powell. It looks like the timeline for interest rate hikes has been pushed up again. Last month, there was more of a debate as to whether it would happen in 2022 or 2023. Powell indicated that conditions for a rate hike would probably be reached next year. That includes the Fed's goal of maximum employment. The inflation requirement has already been met. That's when inflation remains above 2% for a sustained period of time. Powell also said that now is the time to begin tapering the Fed's bond-buying strategy. Policymakers will discuss a tapering plan next month. Jobless claims fell to a fresh pandemic low last week. There were only 290,000 initial claims for state benefits. Continuing claims also fell. They were down 290,000 to 2.48 million. (2) Millions of jobs are going unfilled, however, which is making it difficult for businesses to meet the demand for goods and services. That's also creating supply chain issues that are driving up prices, and inflation.Home buyers are going full steam ahead to lock in deals before mortgage rates rise any higher. The National Association of Realtors say that existing home sales were up 7% from August to September. That's a seasonally-adjusted annual rate of 6.29 million homes. (3) Part of that increase is due to more inventory, but NAR Chief Economist Lawrence Yun says that inventory was quickly gobbled up. On the other side of the housing supply issue, residential construction was down due to those supply chain issues, and a labor shortage. The government says that September home starts were down 1.6% compared to August, and that permits were down 7.7%. Multi-family permits were down the most. They fell 21% while single-family permits were down just 1%. (4) Despite all the headwinds that builders face, the National Association of Home Builders monthly confidence index shows an increase of four points to a reading of 80. Anything over 50 is positive. Although builders have to keep raising prices, they are encouraged that demand and home sales “remain strong.” (5)Mortgage RatesMortgage rates rose slightly this last week. Freddie Mac says the 30-year fixed-rate mortgage was up four points, to 3.09%. The 15-year was up three points, to 2.33%. (6)In other news making headlines…Foreclosures on the RiseForeclosure filings jumped higher in September, after pandemic-related moratoriums were lifted. ATTOM Data Solutions released its Q3 foreclosure report which shows that foreclosure filings were up 24% compared to August, and 102% from a year ago. (7)Economists have been predicting a spike in foreclosures, but RealtyTrac's Rick Sharga says: “Despite the increased level of foreclosure activity in September, we're still far below historically normal numbers.” He says they are almost 70% lower than they were before the pandemic. And light years away from the number of foreclosures in mid-2009.Foreclosure filings were approaching 600,000 per quarter back then. Currently, there are 45,500 filings for the third quarter of this year.Single-Family Rent GrowthSingle-family rent growth quadrupled in August. CoreLogic says the year-over-year rate of growth was 9.3%, and represents the fastest annual rent growth in 16 years. (8)The single-family category includes both detached and attached units, such as duplexes, triplexes, quadplexes, townhomes, row homes, co-ops, and condos. Rent growth spiked the most for detached homes. Annualized rent growth for attached units was 6.4% while the rent for detached homes rose 11.7%.The city with the highest rent growth was Miami. Rents in Miami were up 21.5%. That pushed Phoenix into second place for the first time in almost three years. Rounding out the top five are Las Vegas, Austin, and Dallas. New Forecast for Top Markets in 2022New forecasts are coming out about next year's hot real estate markets. PwC just released its 2022 Emerging Trends in Real Estate report. The report includes a top-10 list of highly ranked real estate markets for 2022. Several of them are also on our list of recommendations for single-family rentals. Those markets include Tampa/St. Petersburg, Charlotte, Dallas/Fort Worth and Atlanta.PwC is also recommending those cities, and others, for the construction of new homes. If you have been following RealWealth, you know that we have expanded our focus on existing single-family rentals to also include the construction of new rental homes. Our recommended markets include Charlotte, North Carolina; Cincinnati and Dayton, Ohio; Dallas, Texas; Park City, Utah, and several Florida markets.You can find out more by joining RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.marketwatch.com/story/feds-powell-says-elevated-inflation-could-last-well-into-next-year-11634917919?mod=economy-politics2 -https://www.marketwatch.com/story/jobless-claims-fall-to-pandemic-low-of-290-000-as-businesses-try-to-avoid-layoffs-due-to-labor-shortage-11634819765?mod=u.s.-economic-calendar3 -https://www.marketwatch.com/story/existing-home-sales-rise-as-some-buyers-are-motived-by-fomo-11634826649?mod=economic-report4 -https://www.marketwatch.com/story/construction-on-new-homes-slows-as-supply-chain-woes-hit-the-housing-market-11634647997?mod=economic-report5 -https://www.marketwatch.com/story/home-builders-grow-more-confident-in-spite-of-continued-supply-chain-headaches-11634565934?mod=economic-report6 -http://www.freddiemac.com/pmms/7 -https://www.attomdata.com/news/market-trends/foreclosures/attom-september-and-q3-2021-u-s-foreclosure-market-report/8 -https://www.corelogic.com/intelligence/single-family-rent-growth-approaches-double-digits/9 -https://fortune.com/2021/10/18/hot-real-estate-markets-2022-outlook-real-estate-buying-a-house/

Should the Packers trade Jordan Love? l News Brief l Sam Darnold isn't the answer for the Panthers See omnystudio.com/listener for privacy information.

It's time for this week's RV and Camping News.   Subscribe to the NEW RV Miles Podcast YouTube Channel: https://www.youtube.com/channel/UCOUA...   NOA's Winter Weather Video: https://youtu.be/cLrmyXVXum8   Say thanks to our sponsor for making this video possible and download the Togo RV App and get Togo RV Plus for $10 off with code RVMILES10X at https://TogoRV.com?fpr=rvmiles

News Brief Oct. 25 | Brian Laundrie Remains Found, Preview of the Week by KHOL

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News Brief Oct. 21 | Habituated Grizzly Euthanized, Fishery Improvements Begin on Flat Creek by KHOL

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In this Real Estate News Brief for the week ending October 16th, 2021… more home loans for the self-employed borrowers, a surge in jumbo loans, and a rise in closing costs.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week. Inflation ticked higher again. The government reports a .4% increase for September, mostly due to higher prices for food, gas, and rent. That raises the yearly rate of inflation from 5.3% to 5.4% which is more than double what the Federal Reserve considers “ideal.” But the Fed pays more attention to the PCE or Personal Consumption Expenditures index which is lower but still more than double the Fed's target. Economists, along with the Fed, say that means prices will probably remain high into next year. (1)Well-known stock investor Cathie Woods has her own theory on inflation. She's the owner of Ark Invest and a collection of stock funds that lean toward more innovative tech companies and start-ups. She told CNBC that the current migration from expensive cities will help keep inflation in check. She says: “The exodus, or the great migration, is from very high-rent areas of the world to much lower rents.” She is moving her own company from New York to St. Petersburg, Florida, to take advantage of a lower cost of living. (2)Consumers don't seem to be that concerned about high prices. U.S. retail sales rose .7% last month. That's after a big gain in August. Economists say Americans have plenty of money to spend from their pandemic savings, and a job market that is paying higher wages. One thing holding them back is a short supply of goods like cars and consumer electronics because of supply chain issues. (3)Initial jobless claims dipped below 300,000 for the first time since the beginning of the pandemic. The government reports just 293,000 new state claims. Ongoing claims also dropped to a pandemic low of 2.59 million. The total number of people collecting benefits from eight state and federal programs is 3.65 million. That's after more than 11 million people dropped off the list last month due to the expiration of an emergency federal program. (4) The “quit rate” jumped higher in August, to the highest it's ever been since the government started tracking the number of people leaving their jobs in 2000. This so-called quit rate was up almost 3% to 4.27 million private-sector employees. That's about double what it was during the early part of the pandemic. This recent spike coincides with a spike in coronavirus cases tied to the delta variant. (5) Mortgage RatesLet's check on mortgage rates. According to Freddie Mac, the 30-year fixed-rate mortgage rose 6 basis points to 3.05%. The 15-year was up 7 points to 2.3%. (6)In other news making headlines...Credit More Available for Self-Employed The credit market is opening up a bit, making it easier to get a home loan. The Mortgage Bankers Association's Credit Availability Index rose 1.5% in September, with most of the growth going to self-employed borrowers. That's great for real estate professionals who are often self-employed. (7)The index benchmark is 100, and the current reading is 125.6. It's the highest it's been since May. The MBA's Joel Kan says: “But, even with increases in seven out of nine months thus far in 2021, total credit availability is still around 30% less than it was in February 2020” which is right before the pandemic struck.Jumbo Loans Surge Due to High Home Prices Lenders are also handing out more jumbo loans because of high home prices. Researchers at Bank of America said in a weekly report that loan originations for jumbo loans are rising to levels we haven't seen since before the 2008 financial crisis. (8)The current limit for a conforming loan is about $548,000. Anything above that is a jumbo loan, although high-priced areas like New York City and San Francisco have higher limits. Several lenders have already announced higher conforming loan limits up to $625,000 for next year.Buyers Paying Higher Closing CostsHigh home prices are also driving closing costs higher. Residential real estate data firm ClosingCorp said the national average for single-family properties was $6,837 during the first half of this year. That includes taxes, and represents a 12.3% year-over-year increase. Without taxes, the national average is up 10.5% to $3,836. For refinancing loans, closing costs are up about 5% to around $2,400. (8)ClosingCorp's CEO, Bob Jennings, says that even though closing costs are higher, they are not going up as fast as home prices, because lenders are holding those costs down. He says: “Although the average home price increased by nearly $45,000, the closing cost, excluding taxes, on property only increased by $400.”That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!You can also join RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more. Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.marketwatch.com/story/consumer-prices-rise-at-5-4-yearly-pace-in-september-and-stay-at-30-year-high-11634129045?mod=inflation2 -https://markets.businessinsider.com/news/stocks/cathie-wood-inflation-exodus-expensive-cities-ark-invest-2021-103 -https://www.marketwatch.com/story/u-s-retail-sales-rise-sharply-again-but-high-inflation-also-means-goods-cost-more-11634302108?mod=economy-politics4 - https://www.marketwatch.com/story/jobless-claims-sink-to-new-pandemic-low-and-fall-below-300-000-for-first-time-in-a-year-and-a-half-11634215581?mod=economic-report5 -https://www.marketwatch.com/story/i-quit-a-record-number-of-u-s-workers-are-telling-their-bosses-11634051980?mod=economic-report6 -http://www.freddiemac.com/pmms/7 -https://www.housingwire.com/articles/lenders-are-courting-self-employed-borrowers-again/8 -https://magazine.realtor/daily-news/2021/10/13/rising-home-prices-lead-to-105-hike-in-closing-costs

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In this News Brief, we recap the recap of Powell's life, from the handwringing over his Iraq War UN speech to the erasure of his role in covering up My Lai massacre to training rightwing death squads in Central America and the central importance of "Good Intentions" when venerating our beloved, bipartisan war-makers.

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