April 24, 2024 Mortgage Market Update

This Weeks Market Update:Wrap Up:UMBS 6.0: 99.10 (-34bps)10-year Treasury yield: 4.70%Today's higher rates were triggered by the latest quarterly PCE inflation data, which was a part of the GDP report and came in higher than expected. The question now is whether tomorrow's monthly PCE data will further impact rates. While another significant reaction isn't expected, it's still a possibility. Unfortunately, rates aren't likely to decrease anytime soon. Next week's labor data or the upcoming Fed meeting probably won't provide much relief either.On a positive note, the housing market continues to show resilience. Foreclosures over 90 days are down, and foreclosure loan information has remained stable, indicating that despite inflation affecting our daily expenses, the housing market remains robust.

March 8th 2024 Market Update Report

Market Update for Friday March 8th, 2024 Mortgage interest rates are showing some reprieve, with conventional loans averaging around 6.85%, indicating a slight decrease from previous weeks. This positive movement is attributed to the bond market's performance, with expectations of further improvements in interest rates starting the next Monday.FHA and VA loan rates have also decreased significantly, catching up with the downward trend observed in conventional loan rates. This shift is seen as a positive sign, bringing rates closer to the lows experienced in January.A major factor influencing interest rates is the Bureau of Labor and Job Statistics (BLS) report, which saw a significant revision in job creation numbers for January, down from 353,000 to 229,000 jobs. This revision has played a critical role in the recent behavior of interest rates.The latest BLS report showed a creation of 275,000 jobs, surpassing the forecasted 200,000, but the unemployment rate increased to 3.9% against the expected 3.7%. This discrepancy indicates a potential concern for inflation and economic stability.The unemployment rate's impact is closely watched by the Federal Reserve Board, with indications that an increase beyond 4.1% could prompt actions to adjust the Federal rate, directly affecting mortgage interest rates and overall economic conditions.

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March Market Update

Navigating This Week's Mortgage Market Updates: A Friendly GuideHey everyone! Happy March! As we step into a new month, I thought it would be the perfect time to dive a bit deeper into the latest happenings in the economy and how they're influencing mortgage interest rates. I believe it's super important for you to understand these dynamics, as they directly impact your home financing options.Here's the Scoop on Mortgage Interest Rates:**Good News Alert!** This week, we saw a slight improvement in mortgage interest rates compared to last week.This is mainly due to the positive trends in mortgage-backed securities on the stock market. When more investors are buying these bonds, it signals a stronger appetite for mortgage interest rates in the secondary market, leading to better rates for you.**Why Investors Matter:** In simple terms, when the stock market faces a downturn, investors look for safer places to park their money, and mortgage-backed securities become a hot favorite. This shift means lower mortgage interest rates, as these securities are tied to the loans for your future home.**The PCE Report Roller Coaster:** This week's Personal Consumption Expenditures (PCE) report took us on a bit of a ride. While the report didn't reveal any shocking new data, it did contribute to a slight rally in the mortgage markets. We keep a close eye on the core data within this report because it influences the Federal Reserve's decisions, which in turn affect your wallet.**Fed Watch:** Speaking of the Federal Reserve, they've got a meeting coming up this March 19th-20th. They'll be discussing the economy and eyeing that core percentage rate, aiming to bring it down to their 2% goal. While we don't anticipate immediate rate cuts, this meeting could set the stage for future financial strategies. And remember, even though Fed rate cuts don't directly impact mortgage interest rates, they do influence the broader economic environment which, in turn, affects the mortgage market.**The Curious Case of the OER Report:** Ever wonder how much your home would rent for? That's what the Owner's Equivalent Rent (OER) report tries to figure out, contributing to one-sixth of the PCE data. Interestingly, homeowners' estimates often significantly differ from actual rental prices, which can make for some intriguing discrepancies in the data.Wrapping Up:Navigating the mortgage market can feel like decoding a secret language, but it's my mission to translate it into plain English for you. Whether you're buying your first home, refinancing, or just curious about the market, I'm here to shed light on these topics. Remember, understanding these trends helps you make informed decisions, and I'm always here to help guide you through this journey.Stay tuned for more updates, and feel free to reach out if you have any questions or need advice. Here's to making smart financial choices together!

Mortgage Market Update February 23, 2024

Happy Friday - welcome to this week's Market Mortgage Update for February 23, 2024- Mortgage interest rates have started to rebound slightly, influenced by the performance of mortgage bonds, with rates expected to show more accurately early next week. Conventional loans average around 7.10%, with FHA and VA loans slightly lower.- The job market shows contrasting views: the government reports a strong job market, while the CEO of ZipRecruiter highlights a decline in recruiting, noting that 80% of jobs created in 2023 were in government, healthcare, and hospitality/leisure, with the latter expected to decline due to inflation.- The "Buy Now, Pay Later" trend is surging, with a significant portion of transactions under $250, and 21% of these purchases are for groceries, indicating a financial strain on consumers for basic needs.- New construction and home builder sentiment remain positive, with a 5% increase in new construction expected this year despite seasonal fluctuations. Home sales are up month-over-month but have slowed year-over-year, indicating a still robust seller's market with only a three-month supply.- A new course on financial literacy, covering topics from the psychology of money to pathways to homeownership, is being launched, aiming to empower individuals with knowledge to navigate the financial aspects of home buying and ownership.Friday ended up being surprisingly strong for the bond market with the best rally of the week in the long end of the yield curve. European bonds were a key consideration early, but the quarterly rollover in Treasury futures probably added some emphasis to the gains. 10yr Treasuries fully erased the sharper losses seen Wednesday and Thursday. Unfortunately, those sharper losses happened to be threatening the technical ceiling at 4.32%, so Friday's rally is best described as merely keeping the broader sideways vibes intact.

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Mortgage Market Update Thursday February 15th, 2024

Hey there, friends and future homeowners and partners.Welcome back to our cozy corner of the internet where we talk all things mortgages, making sense of the market, and how it all affects you and your dream of owning a home. This week, we're diving into something super interesting and, let's be honest, a bit complex. But don't worry, I've got you covered.We're unpacking the latest on the mortgage market and how a trio of economic indicators - the Consumer Price Index, Japan's GDP reports, and a dip in consumer spending according to the latest retail reports - could be influencing mortgage interest rates.Now, you might be wondering, "What does Japan's economy have to do with my mortgage rate?" or "How does consumer spending affect my home-buying journey?" Great questions! And I promise, by the end of our chat today, you'll have the answers and a clearer picture of how these global and domestic economic pulses can impact your mortgage.So, grab your favorite beverage, get comfy, and let's break down these financial headlines together. Whether you're a first-time buyer, looking to refinance, or just a finance enthusiast, there's something in this update for everyone. Let's dive into this week's mortgage market update and make sense of the numbers behind your home dreams.Remember, understanding the market is the first step to making empowered decisions about your future home. Let's get started

Navigating the Economic Waves: Understanding CPI, Fed Rates, and Mortgage Interest Fluctuations

Monday Mindset – Doing Hard Things January 15th, 2024

Do you need to have a cold plunge to be successful?Happy Monday Morning!First off, I hope you’re enjoying this Martin Luther King Jr. Day! The older I get, the more I appreciate the progress he represents in society.Now for a hard-turn to a completely unrelated topic…This week, I figured I’d lean into a popular “hustle culture” topic I’ve seen lately — and that’s cold plunging.It seems like everyone who’s successful online is doing them — and today, I figured I’d give my .02 on the topic.If you’d like to smile a bit, but also hopefully have a good opportunity to learn in this week’s Weekly Wisdom!P.S. If you know someone who has the goal for 2024 to buy a home, my team and I would love to help! You can just reply back to this email or text/call me at 360-900-7092!Julie HerrmannYour Mortgage Gal for Life http://www.YourMortgageGalforlife.com 360.900.7092Julie.Herrmann@Edgehomefinance.com

Real Estate Agent Tips and Tidbits January 15th 2024

Hey, I just recorded a video about a special program by Fannie Mae and Freddie Mac to help first-time home buyers qualify for conventional loans. It's really informative and has some great benefits.Uploaded the newest Altos Research video on the market for 2024 - what we're expecting to see for home growth, sales growth, and buyer opportunities.The Mortgage Bond Market is closed today for MLK day - markets ended on Friday lower than Thursday last week - check out the market link below to see how the market is projecting. The official write-up for the markets is on my website but basically put ... the stock markets don't believe the government when it says it doesn't know when they will for sure cut rates in 2024 - and everyone betting around 5 official cuts, I anticipate rates to continue to improve each week as the year progress'. My estimate is that rates will end 2024 in the high 4's. Seriously. You can catch this week's market rates off to the side under Mortgage Market Rate Tracker (and save this URL for your email signatures and clients:: https://housingbrief.com/mortgage-rates/63fe5ad4344223b9868e239a ) I update that link multiple times a day to show what the mortgage market is doing. USE it - empower yourself; and your clients.Need a widget for your website let me know I can make you a co-marketed widget.Have a great day -Your Mortgage Gal for LIfeJulie Herrmann360-900-7092Julie.herrmann@Edgehomefinance.comhttp://www.YourMortgageGalforLife.com

End of Year 2023 Market

**New Video Alert: "Q3 2023 Annual Mortgage Review - Your Guide to a Stronger Financial Future!"** Hey everyone! I've just released a must-watch video titled "Q3 2023 Annual Mortgage Review." This isn't just another financial update; it's your personal guide to navigating the ever-evolving world of real estate and mortgages. **Why should you tune in? Here are some compelling reasons:** 1. **Stay Informed:** The real estate market is constantly changing, and staying updated is key to making smart decisions. This video provides a comprehensive overview of current trends, mortgage rate movements, and what to expect as we approach 2024. 2. **Empower Your Financial Decisions:** Whether you're a homeowner, potential buyer, or simply interested in the market, this video is packed with insights to help you understand and manage your mortgage and real estate investments better. 3. **Refinancing Insights:** Thinking about refinancing? I delve into why now might be the perfect time, especially with the recent shifts in mortgage interest rates. 4. **Local Market Trends:** Get detailed insights into how different areas are performing, helping you make informed decisions if you're planning to sell, buy, or invest. 5. **Secure Your Financial Future:** I share practical tips on managing your mortgage, insurance, and property taxes, aligning them with your long-term financial goals. This video is not just about numbers and rates; it's about empowering you with the knowledge to create financial security and peace of mind in your real estate ventures. So grab a cup of coffee , settle in, and let's dive into the world of mortgages and real estate together. Your journey to a stronger financial future starts here! [Watch Now] - Don't forget to like, comment, and subscribe for more valuable insights! #MortgageUpdate #RealEstateTrends #FinancialEmpowerment #HomeownershipJourney #Q32023Review

Renter ToolKit Presentation

Hello, I'm Julie, your guide in the mortgage and housing world. Today, I want to address all of you navigating the complexities of renting. Renting can be a complex journey, with its own set of challenges like understanding leases, knowing your rights as a tenant, and managing budgets. To help you through, I've compiled a collection of comprehensive guides, each designed to ease your path in the rental world. First in line is the Tenant Survival Guide, a comprehensive resource filled with insights to enhance your renting experience and make it as smooth as possible. But there's more. For those planning to transition into homeownership, or keen on improving their financial knowledge, I've included additional valuable resources: Budget Workbook: A crucial tool for anyone, whether you're renting now or planning to buy a home in the future. This workbook is designed to help you master your finances. Perfecting Your Credit Guide: This guide is essential for understanding and boosting your credit score, a critical step towards qualifying for a home loan. 10 Easy Steps to Homeownership: Ready to move from renting to owning? This guide breaks down the home-buying process into manageable, clear steps. These guides are available right here for you, free of charge. Just scroll down and click on the book you wish to view or download. Are you ready to empower yourself in your rental journey and set a solid foundation for your financial future? Explore these guides and start your path to financial mastery and homeownership today.

Top 5 Reasons Why You Should Purchase Today

Hello, Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice. The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer. In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude. For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19. The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months. ........................................... Six Months Ago vs. Today Six Months Ago: Buyers competed against 10+ offers per property. Buyers had to release all loan, inspection, and appraisal contingencies. Buyers had to convert their loans into " cash offers " to compete. Buyers had to overbid on their offers to compete. Buyers had to settle on whatever home came on the market. Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment. Today: Few Buyers, which means less competition. Buyers can write offers with and maintain their contingencies. Buyers with minimum down payments can purchase again. Buyers can get fair value or even undervalued properties with their offers. Buyers have more choices of homes than buying whatever comes to market. With help from lenders like myself, we can structure much better terms, like buying down the rate.

The Complete Playbook on how Mortgage Interest Rates Really Work

We are pulling back the curtain on how interest rates REALLY work! We're talking about the 30 things that can affect your unique mortgage interest rate, how to fix some of those and getting into the nitty gritty of why your rate won't be the same as your cousins! You will leave this class feeling like you opened the biggest present this year - and finally become empowered to know how strategic the right mortgage (and lender) are to your houses financial health!

How To Become An Air bNb Host

Do you ever look at beachfront real estate and wonder how you can own a piece of paradise while also turning a profit when you're not there? "Air bnb" What separates a good host from a great one is outlined here.

Saving For a Home

Ready to design a budget that will sustain your needs & help you with your goals for home ownership? We have you covered. Download this helpful guide.

Things To Consider When Buying a Home – Summer 2022

Are you thinking of buying a home this summer? If so, you have a great opportunity in front of you. Inside out guide are just a few reasons why this season may be the right time to make your purchase. One of my most important reasons to owning a home for me was the emotional aspect. The link between financial security and homeownership is undeniable. But your home also provides a sense of gratitude, pride, and comfort. Here are some of the best emotional and financial benefits that come with owning a home. The Emotional Benefits of Owning a Home Are Powerful In their list of top reasons to buy a home, the National Association of Realtors (NAR) highlights some of the powerful, non-financial aspects of homeownership. Among them is the opportunity to customize your home to reflect your personality and needs: “The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.”  Another benefit homeowners enjoy is the stability it provides. Homeowners typically stay put longer than renters. According to NAR, when you remain in one place for more than a few years, you can grow closer to your community, which can enhance your sense of pride and lead to better relationships. Ready to learn more? Download this helpful guide to start your journey.

Rates, Inflation & Recession

Where is the housing market heading in 2022? Listen in as we deep dive into it. Watch the video and you can download the slides off to the right hand side and reuse those slides to help you create helpful information for your buyers & sellers. Click uptop to schedule a one on one business planning meeting with me so we can discuss how to help your clients thru their questions and fears they might be feeling. JULIE HERRMANN, Mortgage Loan Originator Homebridge Financial Services, Inc. 201 West North River Dr., Suite 600 Spokane, WA 99201 NMLS#1563583 o: 509-930-0021 c: 360-900-7092 e: julie.herrmann@homebridge.com web: www.YourMortgageGalforLife.com THE HOMEBRIDGE VISION: To make the dream of homeownership a reality for every customer, every day.