All things point to recession
I don’t know if it will get called a recession or not, we no longer have a technical definition that is valid since the last two consecutive quarters of negative growth happened and people felt it didn’t suit their political agenda, so they just ignored it and said it wasn’t so; but call it what you...
The Fed continues to flounder!
Let’s be honest, the Federal Reserve Board has some serious credibility issues. They either spend all their time looking at old and dated data or refuse to accept any information that doesn’t match their own agenda. How else could we have ended up with “Inflation is transitory” situation? How else d...
Be clear and be real!
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The bond market has been all over the place, and we have seen rapid movement in both directions in the past few weeks. We also have many originators that are struggling to produce loans and they are promising (and hoping) rates and fees that currently don’t exist to attract business. While this i...
June is here, let summer begin!
It’s June and the summer season is here and it’s going to be a wild one! Rate volatility last week, steadily lower, has given way to some price improvement. Not enough to make up for recent losses, but the unemployment numbers today and the jobs report on Friday will contribute to either further imp...
What are YOU missing?
Rates continue to feel pressure as bank failures, inflation, and continued market discomfort about the economic path we are on with the debt ceiling issues before us. Despite that, we still see new buyers entering the market and more demand for homes than there is supply in most markets. Now many wi...
Reports from the street!
One of the most popular parts of this weekly blog post is when I write about the information and feedback that I get directly from the street about what is working and what is generating results. I always appreciate the feedback and the comments because they help me share with you the actual results...
It won't come to you!
2020 and 2021 are over. Rates are no longer in the 2% range and property values are not climbing at 20%+ year over year. Loan opportunities are not falling from the sky, and sellers aren’t calling agents all day every day asking how much they could get for their house! Rents aren’t screaming higher ...
FHA MAY save the day!
We are concluding the first week of business with the new loan level price adjustments and surprisingly there aren’t as many questions about it as I thought there would be. Maybe the word hasn’t gone out yet? Maybe with the market movements the impact on pricing isn’t as obvious? Maybe a bunch of ot...
Have we learned nothing?
Here we go again! As if we didn’t learn from past mistakes, with the stroke of a pen, a vast majority of people who have done things the right way will be forced to pay for those who have made specific choices that have put them in a poor position. Let’s be honest, nobody with below average credit d...
What I see isn’t what the national numbers show!
The Mortgage Bankers Association said that purchase loan applications were down 10% last week. While I don’t contest that those are the numbers reported back to them, the numbers reporting back to me from my clients around the country, is that applications, along with contracts, and requests for pre...
