https://youtu.be/msulwDIwx6s
Here is your Monday Mortgage Minute for September 14, 2020. Couple links below as well. Have a great week.
https://tradingeconomics.com/united-states/inflation-cpi
https://www.cnbc.com/video/2020/09/11/19-point-3-million-people-could-qualify-for-refinancingaheres-what-to-know-about-the-market.html
YOUTUBE.COM
MMM 9 14 20
Check out this 5 star First Party review by Rhonda S:
Kyle goes the extra mile for his customers. Took the time and effort to get us the best rate available.
Interesting article on mortgage origination volume in 2020. With rates where they're at it continues to be an excellent time to purchase or refinance.
http://www.mortgagenewsdaily.com/09082020_black_knight_mortgage_monitor.asp
MORTGAGENEWSDAILY.COM
Q2 Saw Highest Origination Volume in History, Q3 Might be Even Better
Check out this 5 star First Party review by Donald P:
Kyle was awesome! He answered all my emails and phone calls in a timely manner. He made the refinance quick and painless!
https://youtu.be/lvs9QmKH1FE
Monday Mortgage Minute for Oct 5!
Two links for review as well:
http://www.mortgagenewsdaily.com/consumer_rates/956211.aspx
https://www.bankrate.com/banking/what-presidential-election-trump-biden-means-for-banking/
YOUTUBE.COM
MMM 10 5 20
Good quick read by Matt Graham on rates, the bond market, and possible election impacts.
http://www.mortgagenewsdaily.com/consumer_rates/955793.aspx
MORTGAGENEWSDAILY.COM
Mortgage Rates Still Sideways to Slightly Lower
Is it still Monday?? Can you believe this is the last Monday Minute of September! Bring on Q4. Here is your end of Day Monday Mortgage Minute for September 21, 2020
Present Market Conditions
Last week’s impressive housing data had little impact on mortgage markets, and rates again held steady near record low levels.
The spectacular rebound in the housing sector from weakness during the spring due to the shutdown of much of the economy due to the coronavirus has continued. In August, sales of previously owned (existing) homes, which make up about 90% of the national market, rose to the highest level since 2006. National median existing-home prices were up 11% from a year ago.
Inventory levels were down 19% from a year ago and remained the primary trouble spot. The number of homes for sale was at just a 3.0-month supply nationally, well below the 6.0-month supply which is considered a healthy balance between buyers and sellers. For comparison and to realize how hot the market in Colorado is most markets in our state are around a 1.0-1.5 month supply of inventory.
August new home sales, which account for the remaining 10% of the market, were remarkably strong as well. They increased 5% from July, also to the best level since 2006, and were 43% higher than a year ago. Unlike existing home sales, which are based on closings, new home sales measure contracts signed during the month, a more current indicator of activity.
Several factors have helped boost home sales activity over the last few months including record low mortgage rates and pent up demand from March and April when many people were reluctant to buy or sell a home. In addition, the pandemic has increased the desire to live in larger homes and in less densely packed regions.
Expectations
“Mortgage rates set several record lows over the last few months and have remained low into September,” said Sam Khater, Freddie Mac’s Chief Economist. “While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.”.
Like we mentioned a couple weeks ago the marketplace is keeping a watchful eye on inflation. The Fed’s favored inflation index the Core PCE will come out on Thursday along with the ISM Manufacturing Index. Friday finishes up the week with the always important monthly Employment report. This report details the number of jobs, unemployment rate, and wage inflation.
Guidance For Buyers
Rates are near all-time lows. The volatility day to day with fluctuations still exists. But overall rates continue to remain steady and it’s a great time to lock in a purchase or refinance.
Have a GREAT week. Please let us know how we can serve you or your buyers this week.
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How does the looming Election impact mortgages this week? Check out the Monday Mortgage Minute for 10.26.20
https://youtu.be/BZ1zgndlOLc
And the CNN article referenced in the Minute today can be found HERE:
https://www.cnn.com/2020/10/26/investing/premarket-stocks-trading/index.html
YOUTUBE.COM
MMM 10 26 20
Good afternoon friends—a quick Monday Mortgage Minute this week. Hope you enjoy the short week and are able to take some time to reflect on our many blessings and enjoy time with family and friends. Be safe and healthy this Thanksgiving holiday. Even in the midst of a pandemic and the rest of this crazy 2020 year we have much for which to be grateful. Have a blessed week.
Present Market Conditions:
Following sharp declines earlier in the year, retail sales have shown six straight months of gains, but the latest report released on Tuesday fell short of expectations. In October, retail sales increased just 0.3% from September, below the consensus forecast for an increase of 0.5%, and the September results were revised lower. Some investors are worried that the pandemic will hold back consumer spending during the important holiday shopping season.
Housing sector continues to be very strong. In October, existing home sales increased 4% from September and were 27% higher than a year ago, at the best level since 2006. The median existing-home price was 16% higher than a year ago, at a new record of $313,000.
Inventory levels were down 20% from a year ago and low inventory remains the primary obstacle to even stronger sales activity.
In October, single-family housing starts rose 6% from September to the highest level since 2007. In addition, the National Association of Home Builders (NAHB) housing index revealed that builder confidence surged to 90, far above the consensus of 85, and crushing last month’s record high.
Expectations:
“While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of the economy,” said Sam Khater, Freddie Mac’s Chief Economist.
Investors will continue watching COVID-19 case counts, progress on vaccines, and government stimulus measures.
New Home Sales, Durable Orders, and the core PCE price index, will all be released on Wednesday. Mortgage markets will be closed on Thursday for Thanksgiving.
Guidance For Buyers:
Rates remain near record lows. Continues to be a strong time to lock in new purchase and refinance loans.
Have a GREAT week! :)
FACEBOOK.COM
www.facebook.com
WOW, we had SO many people enter our “Sleigh your Shopping” Giveaway that we decided we could not just pick 5 winners…so we decided to pick 20 WINNERS! Thank you to everyone who entered, we LOVED reading about your fun holiday traditions. We hope this giveaway will bring joy to all of these amazing winners!
Our 20 winners are…
Christine D.
Amy R.
Leanna N.
Larry M.
Shauna S.
Haylee B.
Kimberly S.
Mike W.
Alisha J.
Katie E.
Kimberly B.
Mallory A.
Marcy M.
Amy K.
Julie G.
Lauren R.
Amber W.
Hannah H.
Johnny R.
Jamie L.
Congratulations to ALL of our winners! We will be sending you a private message with details on how to redeem your prize so please watch your Facebook/Instagram inbox for a message request from our Social Media Manager, Alex Sabot.
Thank you again to everyone who entered all across the country. We hope you all have a wonderful holiday season!
Watch for more giveaways coming very soon!
COVID cases rising but possible vaccine coming soon. How does this impact mortgage rates? Check out this week's Monday Mortgage Minute!
https://youtu.be/xyfhaDdCbWA
YOUTUBE.COM
MMM 11 16 20
News of a possible vaccine was good for stocks this morning. Nice article here on impact on rates. Still in very good low rate territory.
http://www.mortgagenewsdaily.com/consumer_rates/959482.aspx
MORTGAGENEWSDAILY.COM
Mortgage Rates Jump After Pfizer News
How did last week's Fed meeting affect mortgage rates? Check out the Monday Mortgage Minute for November 9, 2020!
https://youtu.be/82hNc_vMMYI
YOUTUBE.COM
MMM 11 9 20
Overall mortgage markets seem to be pretty quiet on this Election Day Eve awaiting tomorrow’s outcomes. Here is your Monday Mortgage Minute for November 2, 2020.
Present Market Conditions
While there was no shortage of significant economic news on several fronts last week, including an increase in global cases of the coronavirus, major US economic data, and a European Central Bank meeting, mortgage markets held relatively steady. It appears that many investors have been staying on the sidelines ahead of Tuesday’s election, and mortgage rates remained near record low levels.
Last Thursday’s European Central Bank (ECB) meeting produced no surprises. Officials noted that the economic risks favored the downside and that they will be closely watching incoming data. As expected, however, they indicated that any necessary policy changes will be announced at the next meeting in December.
Following four straight months of impressive gains, new home sales in September dropped 4% from August, which was below the consensus forecast for a small increase. Despite the minor dip, however, new home sales remained near the best levels since 2006 and were a massive 32% higher than a year ago. “The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Strong purchase demand is helping to lift the construction, manufacturing and transportation industries that build new homes and it is also leading to more consumer spending for owners, who are selling or improving their homes. On the refinance front, many consumers are smartly taking advantage of the ability to lower their monthly payment, which means they can spend, save or pay down debt more so than they have in the past.”
Gross domestic product (GDP) is the broadest measure of economic activity, and quarterly readings above 10% annualized are extremely rare. Due to the partial shutdown of the economy, however, GDP declined a stunning 31.4% annualized during the second quarter of this year. The latest report released on last week revealed that it reversed and increased at a comparable rate of 33.1% annualized during the third quarter, which was close to the expected levels. Early estimates for the fourth quarter vary widely.
Expectations
Looking ahead, it’s almost hard to imagine a bigger week for potentially market moving news. Of course, by far the most significant event will be Tuesday’s election. In addition, the next Fed meeting will take place on Thursday. ISM Manufacturing Index came out today and monthly Employment figures will be available Friday.
Stay tuned after Election Day. As needed we may put out a mid-week report if anything happens that dramatically impacts rates.
Guidance For Buyers
Rates still near historic lows. Everything has been sluggish with little movement as investors and others hold their breath until Election Day tomorrow. But all the hype aside its still an excellent rate environment to lock in that new purchase or refinance mortgage.
Stay safe and healthy out there. Please let us know how we can serve you or your buyers this week.
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And our Date Night Giveaway WINNERS are…
Julie N.
BreAnna A.
Samantha N.
Rianna M.
Jordan A.
Congratulations to ALL of our winners! We will be sending you a private message with details on how to redeem your prize, so please watch your Facebook/Instagram inbox for a message request from our Social Media Manager, Alex Sabot.
Thank you again to everyone who entered all across the country!
Watch for more giveaways coming very soon!
