▶ VideoA few quick industry updates I want to share with you today. I watch the trends and headlines so I can share this information with my clients, and we can see how mortgages might be affected going forward. Conforming Loan Limits The FHFA is the organization that makes the announcements on new conforming loan limits.…
▶ VideoOn the day before Thanksgiving, there is no better time to count your blessings. In today’s video, a brief rundown of the things in my life that I’m thankful for… including the fact that mortgage rates have actually come down since the last time the FED raised the prime lending rate. Have a wonderful Thanksgiving…
▶ VideoThere is so much data coming in that has the potential to have a big impact on real estate. I want to run through some of these details and explain how it appears to be affecting the industry. Fed Day: Rates Went Up Last week was the 2-day Fed meeting. The market was ready for…
▶ VideoWho in this crazy business needs a hug right now?! According to Freddie Mac, interest rates are over 7%. It feels like we’ve finally reached the spot where we are only dealing with people who really need to move. It’s a crazy time! Stay Engaged – Interest Rates Will Likely Come Down Again I still…
▶ VideoDo you know that there is a connection between oil and the mortgage business? Most people would never make this association, which is why I wanted to talk about it. What Did OPEC Decide? OPEC (The Organization of the Petroleum Exporting Countries) basically oversees the multi-national price-fixing of our oil. They control the output of…
▶ VideoToday is Fed Day: as expected the Fed increased rates by three-quarters of a percent. The mortgage/bonds market is having a muted response. So far there isn’t too much movement. If you’ve been watching the trends, it’s been an ugly ride for interest rates in the last month and a half. For now, at least…
▶ VideoToday, we’re continuing with the topic of investment properties. It continues to be a relevant topic, especially with the things that are currently happening with other types of investments. A few days ago, the stock market lost over 1000 points, which made me stop to consider where people are investing their money. Real estate is…
It’s no surprise that real estate volumes are slowing down, and there are less buyers in the market. Recent housing data is showing that existing homes sales are down by almost 30%. What’s interesting is that some of the price appreciation numbers speak to the level of buyers vs sellers (the inventory problem): we are…
To start on a much lighter note: did you know that you can buy real estate in the Metaverse already? I recently saw an interview with Mark Cuban and they were talking about how there is a piece of land next to Snoop Dog’s property that you can buy for $458,000 in the Metaverse. I’m…
I wanted to follow up about what I discussed in last week’s video: the GDP number that came out on Thursday. It showed another quarter of negative growth, which leads to ongoing conversation that the recession has started. I wanted to add my thoughts and give you a few bits of perspective. Economic Slowdown is…
There are big updates today that a lot of people are paying attention to: it was established that the Fed increased rates by 3/4 of a point. If you look at the charts behind me, you’ll see the green numbers which show positive movement for mortgage rates. Fed Fund Rate Doesn’t Correlate to Mortgage Rates…
We received data for existing home sales in June, and the numbers are worth taking a look at. Obviously, this is a report that comes out every month – and we’ve been paying more attention to it than usual. There’s no question that things are slowing down, there’s no argument to that fact! But it’s…
