Markets & Mortgages: Recent Episodes
Tyler Cralle
The weekday morning podcast covering the top stories impacting real estate, the mortgage industry, and the economy.
Richard Collier, a candidate for Wilmington City Council, joins the program to discuss:
00:25 His background and his job as a civil engineer
6:10 Infrastructure and growth
11:15 Working with surrounding communities
13:10 Can you slow growth, and should we?
15:55 Growth in Downtown Wilmington
16:55 Affordable housing and the inventory shortage
20:30 How to deal with the housing shortage
22:40 Stormwater runoff
26:30 The Environment
29:10 The tree ordinance/green space
31:00 Planning going forward
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Merritt Anderson Crawley & James Rackley from the MAC Real Estate Team at Nest Realty join the program to discuss:
1:25 Merrit & James talk about how they each got started in real estate
3:15 COVID housing market
4:45 Growth in Hampstead
6:55 Monkey Junction & Wilmington growth
12:25 Why residents are wary of new development
14:40 Current housing market that has become a buyer's market
24:40 Team dynamics & other agents leaving the business
26:30 James cutting his teeth selling modular homes
37:50 Living outside of Wilmington proper
40:45 Beach communities
42:55 Wish Upon a Par
45:30 The cons of the real estate business
46:55 James' acting career and other shows filmed in Wilmington
54:55 The Fed cutting rates and the impact on mortgage rates
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Travis Beatty, a Real Estate Broker and team lead with Morgan/Beatty Group, joins the program to discuss:
1:25 How he got started in real estate & student housing
4:25 UNCW & how he started his general brokerage path
7:30 The pros and cons of a hot housing market
9:30 Why he chose to start a real estate team
12:15 The future of the Wilmington housing market
15:15 How he got started building his rental portfolio
24:15 Realtor realty check
27:00 How he got started in developing real estate
30:20 What is infill development
33:00 ADUs
36:20 The Cargo District in Wilmington
39:20 Mixed-use developments
41:20 Helping local developers
44:30 The future of Wilmington
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Franklin Rouse, property insurance agent in the Cape Fear region, joins the program to discuss:
2:25 Why he chose Leland to set up his agency
4:36 Why rates are rising
9:10 How world events impact rates
11:45 Roofs impacting insurance
15:10 Why blackswan events impact rates
16:45 How insurance rates are set in North Carolina
22:25 Flood insurance
24:45 Lock insurance before a storm
31:25 Wind, hail, and flood policies
32:55 Understanding policies and deductibles
37:50 Affordability issues
41:00 People who choose to be self-insured
45:25 Hurricane Florence
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Don Harris, from Intracoastal Realty, joins the program
00:45 How Don got started in real estate
06:00 The difference between 2008 and COVID housing market
09:30 Mortgage rates and housing affordability
13:00 Building wealth in real estate
16:00 Don running to be on the Cape Fear Realtors Board of Directors
21:00 Commercial real estate in Wilmington
23:00 The growth of Downtown Wilmington
29:00 How technology has changed the industry
34:30 Misunderstanding about a realtor's job
38:30 Why Don is running to be on the Cape Fear Realtors Board
41:50 The backlash against realtors running for political office
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Samanatha Benford, broker at Landmark Sotheby's International Realty, joins the program!
1:12 How she got started in real estate
4:00 working with her father-in-law David Benford
5:25 the craziness of the COVID housing market
8:50 Adjusting to a slower more normal housing market
12:45 Working with different clients
15:00 Why homeowners with equity shouldn't be afraid of higher rates
17:45 How to utilize social media
23:00 The work life balance and the benefit of being on a real estate team
26:35 The difference between a luxury buyer and the mid-range buyer
32:10 The popularity of real estate websites
36:00 The future of the Wilmington market
37:30 Popular streaming shows filmed in Wilmington are attracting new residents
42:30 The growth and changes happening in downtown Wilmington.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
Ryan Rodenhiser, a partner at Siegel & Rhodenhiser, talks about the importance of picking the right attorney for your real estate closing, how settlement fees are calculated, why a money wire is used instead of other options, the pros and cons of a hybrid closing, the future of real estate closings, the difference between the mid-2000s and the Covid housing market, his trip to Augusta National for the Masters and Happy Gilmore 2.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Inflation data came in as expected but the increases are worrying economists and wha that could mean for future rats cuts. Wilmington's housing market continues to show signs of a slowdown
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates rose for the second straight week as President Trump announced new tariffs and ramped up his attacks on Fed Chair Jerome Powell. It's a big week for data as markets prepare for CPI, PPI, and retail sales.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A hotter-than-expected jobs report pushes up rates, after two busy weeks it's a slow week for economic data, and New Hanover County Commissioner Dane Scalise joins the program to discuss....
8:35 Property tax debate
17:55 Core services (needs vs wants)
20:15 Road confusion
23:10 Property tax rate hikes impact everyone
25:17 The Endowment's role
29:20 The balance of development & protecting the community
35:50 The importance of green space
40:20 Downtown is ripe for more development
46:00 How reducing red tape can help with affordable housing
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Mortgage rates rise on a strong job openings report, Powell's comments on a July rate cut, and the passage of Trump's Big Beautiful Bill. Private payrolls see the first decline since March 2023 in June and rents in Wilmington fall for the 26th straight month but that could be coming to an end in July...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Busy day in Washington as the Senate votes on Trump's Big Beautiful Bill, Senator Thom Tillis announces his retirement on Sunday, President Trump goes on another rant about Jerome Powell, it's a short jobs week, and housing affordability worsens in Wilmington in the second quarter...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates fell this week as the economy retraced more in the first quarter than orignally thought, PCE comes in slightly hotter than expected but personal income was a big miss, new home sales plummet in May, and pending home sales give some hope for a better housing market than last year...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates fall slightly to start the week thanks to optimism from the Federal Reserve that we could see a rate cut sooner rather than later, consumer confidence dissapoints in June, and Wilmington's housing market shows signs of slowing...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A rare busy Monday show as we break down the impact the US attacking Iran will have on markets, the Trump administration's pressure campaign on Powell, and the busy week ahead for inflation and housing data. Heather Ashworth, Broker at Nest Realty, joined the program to discuss the impact one year later from the NAR lawsuit, whether it's a buyer or seller's market, how the market has changed from the hot COVID housing market, the importance of your house being turn-key ready when you list, the changing trends in homes, and why monthly payment has become buyers top priority.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Fed announced they were holding rates steady for the fourth consecutive meeting as they wait to see the impact tariffs could have on the economy...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: It is not a great 2025 for homebuilders in the South as confidence falls to the lowest level since 2012 and building permits fall to the lowest level since 2022, disappointing retail sales push rates down so far this week, and all eyes turn to Washington for the Fed rate decision, economic projections, and Powell's presser...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Housing inventory in Wilmington jumps to a 6-year high as the market slows after a slight jump in Spring, bond marketss continue to act wierd, and it's Fed week!
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: After a contenious budget workshop, New Hanover County Comissioners voted 3-2 to lower the property tax rate to 30.6 cents, down from the current 45 cents, but will still be a 5% increaese in property tax bills. It was a good week for bond rates despite a slight uptick after Israel attacked Iran Thursday night. Two good inflation reports (CPI & PPI) and two solid bond auctions (10YR & 30Y) caused a slight bond rally this week, pushing down rates.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: David Benford, team lead for the David Benford Group, stops by the show to talk about how he got started in real estate, the impact of the NAR lawsuit, the current slowdown in the housing market, how the luxury market differs from the mid-range market, and what he sees happening for housing in the future.
Tyler also breaks down what happened to rates last week and the big week ahead for inflation and some big bond auctions.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A weak private payrolls gets markets moving and the President tweeting. Mortgage rates were basically unchanged halfway through jobs week, job openings were higher than expected but quits showed signs of cooling, manufacturing fell for the fourth month, and it's the battle of the budgets here in the Cape Fear region...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Tyler announces the news that he is a full-time Loan Officer at TowneBank Mortgage! It's also jobs week after a positive week for rates, thanks to Japan, tariff pauses, and a positive inflation report. Also, rent in Wilmington holds steady for the second consecutive month...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Japan's possible pullback on long-term bond issuance helps push down US bond yields, consumer confidence unexpectedly rises in May, and building permits fall slightly in Wilmington but remain strong...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Trump announces tariffs on the EU just because, rates rise after a bad 20-year auction, Trump floats the idea of taking Fannie & Freddie out of conservatorship, and exiting-home sales hold in the South during the spring buying season...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: New Hanover County is likely to raise property taxes for the next fiscal year, GOP infighting keeps budget bill in limbo, and Ray Dalio says treasury risk is worse than Moody's and others argue...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Bonds sell off thanks to Moody's downgrading US debt from AAA to AA1, Residential construction is mixed in the South in April, and it looks like a toll might be the only option for the Cape Fear Memorial Bridge replacement...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates rise despite a solid inflation that showed price growth slowing to a 4-year low and despite seeing more revenue from tariffs the budget deficit continues to outpace last years spending...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: An announced US-China trade agreement to lower tariffs caused a big sell-off of bonds as investors rushed to equities, Wilmington home price growth slowed in the first quarter, and this week its all about US consumers ...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Federal Reserve held rates and Chairman Jerome Powell says the future is uncertain but the Fed is prepared to move if needed...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Housing inventory in Wilmington hits a 5-year high, rates hold for the first two trading days as markets prepare for today's Fed decision, and the US trade deficit surged in March...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Bond yields fall to start the week thanks to weak consumer confidence, a cooling labor market, and a negative GDP print, all to start the week. Also noteworthy, President Trump was slightly critical of the job performance of Jerome Powell at his 100-Day rally last night and Wilmington's unemployment rate falls for the second straight month.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Wilmington's housing market heats up in March, President Trump says he's not worried about the bond market and there's no red line on tariffs, consumer sentiment falls pushing down rates ahead of a busy week for data...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: President Donald Trump reassures markets that he won't fire Jerome Powell and that Chinese tariffs will be lowered, the IMF lowers projections for US and global growth, and the scary part of this economic downturn
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: President Trump attacks Federal Reserve Chairman Jerome Powell but stops short of calling for him to resign, housing starts plummet in the South but there is still some optimism, and almost a quarter of Americans are scrapping plans to buy a home because of tariffs...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A sell-off in equities and in bonds has some wondering if the bond market is broken, a horrible consumer survey causes rates to climb, and this week it is all about housing construction...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: President Trump will make his tariff decision public at 4:00 PM, the manufacturing sector contracts ahead of the tariff decision, job openings fall slightly more than expected, and Wilmington rents are down for the 23rd consecutive month...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Wilmington was the 7th fastest growing metro area since 2020, consumer confidence fell to a four-year low, durable goods orders unexpectedly rose, and new home sales in the south rose to the second highest level in the last 10 months...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing home sales have jumped to the second highest level in the last year, Trump has shaken up Fannie & Freddie, and markets are preparing for consumer and inflation data.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: It is a Fed Day and while the rate decision might not matter the forward guidance definitely will, housing starts skyrocket in February while homebuilder confidence falls in March as tariff uncertainty hits home builders, and retail sales fall as consumer pullback spending because of higher prices
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The housing market is still 3.8 million homes underbuilt despite a building boom in some areas, consumer prices growth is slower than expected, and job openings unexpectedly rose in January.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Markets in the red again over fears of an economic slowdown, Fed Chair Jerome Powell says the economy is strong and is in a wait & see mode to determine future monetary policy, February's jobs report is slightly dissapointing, and this week it is all about inflation...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home buying is still a difficult endeavor in New Hanover County despite a slight improvement, higher prices appear to be impacting consumer spending, and it is jobs week!
GO DEEPER:
- New Hanover County is the 18th Worst Place to Buy a Home in the Country
- Inflation, Once Again, Impacting Consumers
- It's Jobs Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Bond yields are down 50 basis points in one month as uncertainty about the economy pushes consumer confidence down, home price growth in Wilmington outperforms the state and region, and the property tax rate debate begins in New Hanover County...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Housing starts plummet in the South to start 2025 while homebuilder confidence holds steady, government layoffs hit the mortgage industry, and New Hanover County home price increases are about to impact property taxes...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Retail sales plummet which is good news for rates, Goldfarb explains how Trump could bring down rates, a home lists for almost $13 million in New Hanover County, and this week we have housing data & global inflation...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The first inflation report of 2025 has pricing rising more than expected which caused bind yields to jump, consumer inflation expectations show a mixed picture to start the new year, and home prices in Wilmington hit an all-time high to end the fourth quarter of 2024...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: While the economy created fewer jobs than economists expected in January wages jumped more than expected causing inflation concerns to rise, Scott Bessent explains how the Trump administration plans to reduce the term premium that is causing longer-term debt yields to rise, and markets prepare for inflation data and Powell testifying in front long congress this week...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Private payrolls rise more than expected, job openings fall more than expected, the manufacturing industry expands for the first time in 26 months, and Wilmington home prices rise for the first time since May of last year...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Trump enacts 25% tariffs on Mexico & Canada, prices rise as expected in December, and it's jobs week!
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Federal Open Market Committee makes its first decision in 2025, the economy shows signs of slowing to start the new year, and new home sales in the south fall slightly to close out 2024...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: AI stocks pull the equity markets down along with bond yields, homeowners insurance rates to rise by double digits the next two years, existing-home sales in the South rise to a 10-month high, and its a busy week with the first Fed decision of 2025...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: While consumer prices did rise by more than expected in December, core inflation slowed more than expected which gave some home that inflation might still be under control, PPI was better than expected in December, and the US government is over $700B in the hole after just three months...
LINKS:
- CNBC: Core inflation rate slows to 3.2% in December, less than expected
- REUTERS: US inflation still slowing as producer prices rise below expectations in December
- CBO: Treasury Confirms Calendar Year 2024 Deficit Tops $2.0 Trillion
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The economy ended 2024 hotter than expected as the labor market added 256,000 jobs in December on expectations of just 160,000 jobs, the 10-year jumped to 14-year highs after the hotter jobs report and continues to rise on Monday, and this week it is all about consumers with inflation data and retail sales...
LINKS:
- REUTERS: US labor market exits 2024 with strong job gains, drop in unemployment rate
- CNBC: 10-year Treasury yield touches fresh 14-month high
- MARKETWATCH: It's all about consumers this week with inflation and retail data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A bad week for rates as the 10-year yield continues to climb, mortgage demand falls to a 30-year low, job openings unexpectedly rise, jobless claims fall, private payrolls rise by less than expected, and rents in Wilmington fall to a 20-month low...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Wilmington was the number one place to move in 2024 the third time it topped the list in the last five years, Wilmington's unemployment rises slightly in November, and it's jobs week!
LINKS:
- Wilmington is the Top Place to Move for the 3rd Time in the Last 5 Years
- Wilmington’s Unemployment Rate Rises to 3.0% in November
- This Week: Finals Jobs Week of 2024
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Big week for central banks as they will make their final decision on interest rates, survey finds support for Trump's economic policies, Softbank announces a $100 billion investment in US, and NAR picks the top housing markets for 2025...
LINKS
- WSJ:The Fed’s Game Plan on Interest-Rate Cuts Keeps Shifting
- THIS WEEK: Central Banks
- CNBC: Softbank CEO and Trump to announce $100 billion investment in U.S. by firm
- PREDICTION: Housing Hot Spots in 2025
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Inflation in the Euro Area rises in October, home construction in the South falls across the board, and President Trump picks Howard Lutnick for his Commerce Secretary.
SHOW LINKS:
- Inflation Rises in the Euro Area in October
- Trump Selects Lutnick to Head Commerce Department
- Residential Construction Down Across the Board in the South
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence falls in the South despite a rise nationally and as the official results for election 2024 are announced in New Hanover County two fourth-place finishers are calling for a recount...
SHOW NOTES:
- Homebuilder Confidence Falls in the South Despite National Rise
- On Second Thought, How About a Recount
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Live Oak Bank invests in affordable housing in Wilmington, home prices in the south fall in July for the first time since January, national home prices hit an all-time for the 14th straight month, and refi demand is up 49% in two weeks as rates fall for 12 straight weeks...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Former President Donald Trump talks about the economy and housing at his rally in Wilmington, Republican leaders look to avoid a shutdown with a new spending deal, and it's a busy week for housing data...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The debate continues as to whether the Fed will cut by 25 or 50 bps with a new CNBC survey out and a new Nick Timiraos article, retail sales rise but are still below the rate of inflation, and the Cape Fear area begins to recover from major flooding in Brunswick County...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: All eyes are on the Fed as the latest Federal Open Market Committee meeting starts tomorrow, the debate continues on whether the Fed will cut 25 or 50 basis points with markets leaning towards a 50 bps cut, a busy week ahead with central banks in England and Japan making interest rate decisions as well, the US government ran a $380 billion deficit in August, and today is the 25th anniversary of Hurricane Floyd hitting Wilmington.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates fall as a new jobs report shows signs the labor market is cooling, rent year-over-year falls for the 14th straight month in Wilmington, and a busy week for inflation data...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Wilmington is the 19th best place in the Country to be a renter, job openings rise in May, manufacturing slows for the third straight time, and housing price growth hits a 7-month low...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home buying got slightly easier in May, home prices hit an all-time high again, and consumer confidence fell to the second-lowest level in 18 months...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales fall for the third straight month, a busy week ahead with housing and inflation data, and a new theory says rates could stay higher forever...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence hits the lowest level all year, residential construction unexpectedly falls in May, and a new analysis finds the US housing market is 4.5 million homes underbuilt....
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Retail sales rise less than expected in May with year-over-year data showing that consumers are keeping pace with inflation, Euro area inflation rises for the first time in three months, New Hanover County passes a budget, and Wilmington's rental market cools slightly in the second quarter...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer price growth came in lower than expected in May, The Fed projects one rate cut in 2024, mortgage demand jumps, and a new home listing could break a New Hanover County record...
- Inflation Cools in May, Rates Fall
- Fed Holds Rates While Dropping Their Rate Cuts From 3 to 1
- Mortgage Demand Jumps as Refi Demand Hits Two-Year High
- New Listing Could Set Record in New Hanover County
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: May's jobs report comes in super hot which might kill all hope of a rate cut in 2024, busy week ahead with inflation data and a Fed meeting, and the luxury housing market in Wilmington sees some inventory growth..
SHOW NOTES:
- Hot Jobs Report Pushes Rates Higher
- This Week: Inflation & Interest Rates
- Luxury Home Listings Surge in Wilmington
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Big jobs report out today so we recap the labor market reports earlier this week, mortgage rates fall under 7.0%, Europe cuts interest rates, and meme stocks are memeing...
SHOW NOTES:
- Initial Jobless Claims Rise for the 3rd Straight Week
- European Central Bank Cuts Rates for the First Time Since 2019
- Mortgage Rates Fall Back Under 7.0%
- GameStop shares jump more than 40% as ‘Roaring Kitty’ schedules YouTube livestream for Friday
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Job openings fall more than expected in April, manufacturing activity unexpectedly falls in May, construction spending unexpectedly falls, and home price growth slows for the 3rd straight month...
SHOW NOTES:
- Job Openings Fall More Than Expected
- Manufacturing Activity Unexpectedly Slowed in May
- Construction Spending Unexpectedly Fell in April
- Home Price Growth Slowed for the 3rd Straight Month
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Welcome to the Cape Fear Report the new and slightly different version of Markets & Mortgages). On today's show we discuss the latest PCE report that was good news, the slight cooling in the Wilmington housing market, and the busy jobs week ahead...
READ MORE:
- Fed’s Preferred Inflation Gauge Holds Steady in April
- Wilmington’s Housing Market Heats Up Slightly in May
- It's Jobs Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: We explain why it is not true that only half of Americans can afford a $250k home, Federal Reserve 2023 survey finds a big price variance between homebuyers now and pre-2022, Fed Vice Philip Jefferson talks housing, and new construction keeps inventory levels from falling...
SHOW NOTES:
- Nearly Half of US Households Can’t Afford a $250,000 Home Is Not Entirely Accurate
- Homeowners Who Bought Pre-2022 Are Saving Over $8,000 A Year
- The Fed Vice Chair Talks Housing
- Share of Newly Built Single-Family Homes Holds in Q1
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Inflation data in April is mixed and retail sales are flat and the markets like it, homebuilder confidence falls as residential construction data is mixed...
SHOW NOTES:
- Consumer Prices Slightly Hotter Than Expected in April
- Retail Sales are Unexpectedly Flat in April
- Homebuilder Confidence Falls Back Into Negative Territory in May
- Residential Construction Dissapoints in April
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Producer prices rise more than expected, Powell says rates will stay higher for longer, credit cards are becoming a problem for consumers, and Bien jumps on the tariff train...
SHOW NOTES:
- Producer Prices Jump More Than Expected in April
- Powell Doubles Down on Higher for Longer
- Household Debt Rises to $17.7T
- President Biden Announces New Tariffs
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: President Joe Biden tweeted about a White House program that would subsidize demand at a time when we have a supply problem, the federal deficit was $1.7 trillion in March, and we have a busy week full of inflation and housing data...
SHOW NOTES:
- Biden's Temporary Buydown
- Deficit Falls Slightly But Is Still Over $1.7T
- This Week: Inflation & Housing Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homeowner equity hits an all-time in March with tappable equity also hitting an all-time high, home price growth slows for the second straight month, and consumer credit rises than expected in March...
SHOW NOTES:
- Homeowner Equity Hits All-Time Highs at $16.9 Trillion
- Home Price Growth Slows for Second Straight Month
- Consumer Credit Rises Less Than Expected...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: April's weak jobs report is a hopeful sign for those looking for relief from higher mortgage rates, after last week's busy week we have a slow week of economic data ahead, and could we see a secondary market for equity lines in the near future?
SHOW NOTES
- BIG MISS: Economy Adds Fewer Jobs Than Economists Were Expecting in April
- This Week: Housing, Credit, & UK Data
- MEREDITH WHITNEY: The mortgage reform that could unleash the next big US stimulus
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Federal Reserve held rates at 5.5% but all eyes were on Jerome Powell's press conference where he argued a rate hike was unlikely but a rate cut was also unlikely anytime soon. Job openings fell to the lowest level in 3 years giving some hope that Friday's jobs report could be lower than expected...
- The Fed Holds Rates, While Powell Rules Out a Hike
- Job Openings Fall to the Lowest Level in 3 Years
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home prices hit an all-time high in February, Nick Timiraos prepares us for the next Fed decision, and the homeownership rate in the South falls slightly in the first quarter...
SHOW NOTES:
- National Home Prices Hit An All-Time High in February
- NICK TIMIRAOS: Fed to Signal It Has Stomach to Keep Rates High for Longer
- Homeownership Rate in the South Falls Slightly in Q1
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
The Fed's preferred inflation gauge showed consumer prices rising more than expected, Nick Timiraos says the days of ultralow rates are over, and we have a busy week ahead with jobs data and a Fed decision.
SHOW NOTES:
- Inflation Data in March Comes in Hot
- NICK TIMIRAOS: Even If the Fed Cuts, the Days of Ultralow Rates Are Over
- THIS WEEK: Housing, Jobs, & A Fed Decision
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The latest PCE report shows slightly better inflation data than expected but consumers are still feeling the pinch, home affordability approves slightly in Q4 but not much, and the markets prepare for jobs week...
SHOW NOTES:
- Inflation Data Slightly Better Than Expected But Consumers Are Still Feeling the Pain
- Home Affordability Improves Slightly in Q1, But Nowhere Near Historic Norms
- It's Jobs Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Heather Ashworth, Broker with Nest Realty, joins the program as my first guest EVER to discuss the NAR settlement, misconceptions about what a realtor does for their client, how compensation could change because of this settlement, changes to the industry, the ongoing housing inventory shortage. We also briefly discuss the economic data fro the week as the schedule ins heavy on housing data and we end the week with inflation data.
SHOW NOTES:
- NAR Reaches $418 Million Settlement That Will Change How Realtors Are Paid
- This Week: Housing & Inflation Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence hits a 7-month high in the South, Housing completions hit a 17-year high in the South, and all eyes on the Fed as the FOMC makes their second-rate decision of 2024...
SHOW NOTES:
- Homebuilder Confidence in the South Rises for the 4th Straight Month
- Housing Completions in the South Hit a 17-Year High
- NICK TIMIAROS: The Fed Is Playing a Waiting Game on Rate Cuts. The Rules Are Starting to Change.
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The NAR announces a $418 million settlement that could be a game changer for the real estate industry or maybe not. A busy week ahead with 3 central bank decisions across the globe including the Federal Reserve and some housing data...
SHOW NOTES:
- NAR Reaches $418 Million Settlement That Will Change How Realtors Are Paid
- This Week: Fed Decision
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The latest CPI report showed inflation coming in hot in February with consumer prices rising more than expected as shelter costs continue to keep core inflation at elevated levels...
SHOW NOTES:
- Inflation Coming in Hot in February
- PPI & Retail Sales Out on Thursday
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The February jobs report may be the best report we see this year and markets away a lot of consumer data this week...
SHOW NOTES:
- A Pretty Phenomenal Jobs Report
- This Week All About Consumers
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Wilmington has become the YIMBY utopia as we have built more apartments which has caused rents to fall for the lowest-priced rentals and we get ready for a very busy week of data...
SHOW NOTES:
- A Rental Market Glut Means Falling Prices in Wilmington
- This Week: Housing & Inflation
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: National rents rise for the second straight month, New Hanover County aims to help residents struggling to pay their rent, and today we finally get some data...
SHOW NOTES:
- National Rents Rise for Second Straight Month
- GWBJ: New Hanover County, Nonprofit Agency Partner On Rental Assistance Program
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The first residential construction report is a mixed bag to start 2024, producer prices come in much hotter than expected, and it's a slow week for data...
SHOW NOTES:
- Residential Construction in the South Plummets to Start 2024
- Producer Prices Come in Hotter Than Expected to Start 2024
- THIS WEEK: Housing & Inflation Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rents in Wilmington fall for the fifth straight month and a NIMBY town in Florida fights state law that forces them to allow development...
SHOW NOTES:
- Wilmington Rents Fall for the 5th Straight Month
- NYT: This Florida Mall Has Gucci, Prada … and Soon, Affordable Housing?
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The economy created 353,000 jobs & wages rose at the fastest pace in two years in January, Wilmington home prices fell while inventory fell in January, and we have a slow week of data after last week's firehose.
SHOW NOTES:
- The 2024 Labor Market Starts with a Bang
- Inventory Falls Along with Home Prices in Wilmington
- This Week: Wilmington's Economy & Housing Market
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Senator Elizabeth Warren pressures Fed Chair Jerome Powell to lower rates to increase affordability forgetting what will happen to prices considering supply has not risen significantly, homebuyers gain 9% in buying power as rates fall these last 6 months, building permits rise in Wilmington & North Carolina, and it is a very busy week ahead with jobs data and a fed decision.
SHOW NOTES:
- CNBC: Sen. Elizabeth Warren pushes Fed Chair Powell to cut ‘astronomical’ rates, ease housing pressure
- Homebuyers Gain 9% in Purchasing Power in 3 Months
- Building Permits in Wilmington Rise to End 2023
- This Week: Housing Data, a Fed Decision, & it’s Jobs Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rates actually fell even after GDP jumped way more than expected mostly because durable goods were flat in December and jobless jumped more than expected last week. New home sales jumped over 10% in December and a new report from Harvard finds that more renters than ever before are burdened by their rent payments even as the homeownership rate has risen...
SHOW NOTES:
- WSJ: U.S. GDP Rose 3.3% in Fourth Quarter
- MW: U.S. initial jobless claims up 25,000 to 214,000 in latest week
- New Home Sales in the South Jump 10.6% to Close Out 2023
- NYT: More Renters Than Ever Before Are Burdened by the Rent They Pay
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Mortgage demand jumps to an 8-month high, more office space is being converted into residential apartments, and it turns out God is a YIBMY...
SHOW NOTES:
- Mortgage Demand Jumps to an 8-Month High
- NYT: Amid a Housing Crunch, Religious Groups Unlock Land to Build Homes
- AXIOS: Number of office-to-apartment conversions surges
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: North Carolina created just under 100k jobs in 2023 and it looks like the Nation of Renters conspiracy theory is on pause until further notice...
SHOW NOTES:
- North Carolina Unemployment Holds at 3.5%
- WSJ: For Property Investors, the Price of Homes Is Still Not Right
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales in the south fell to an 11-year low while existing-home sales nationally fell to the lowest level since 1995 and this week we a heavy end of the week with inflation and GDP data...
SHOW NOTES:
- Existing-Home Sales in the South Fall to 11-Year Low
- THIS WEEK: GDP & Inflation data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Housing Completions Hit a 17-Year High in the South as builders show optimism heading into 2024, jobless claims fall to a 16-month low, and mortgage rates fall to an 8-month low.
SHOW NOTES:
- Housing Completions Hit a 17-Year High in the South
- Jobless Claims Fall to a 16-Month Low
- Mortgage Rates Fall to an 8-Month Low
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence in the South saw the biggest jump since June 2020, retail sales were hotter than expected, and global inflation data shows that inflation's stickiness is a problem everywhere...
SHOW NOTES:
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: ILM airport set a new record in 2023 and is now the 4th fastest-growing airport in the country, Federal Reserve Governor Christopher Waller said in a speech that rates might drop slower than many are anticipating, and baby boomers continue to own bigger houses thanks to the lock-in effect...
SHOW NOTES:
- ILM is the 4th Fastest Growing Airport in the US
- f
- Bonds Slide as Fed’s Waller Downplays Need to Rush: Markets Wrap (Bloomberg)
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer prices rise more than expected but rates actually fall on the news, jobless claims continue to hold, and mortgage rates rise slightly for the second straight week.
SHOW NOTES:
- Inflation Coming in Hot to End 2023
- Jobless Claims Hold For Another Week
- Mortgage Rates Rose for the Second Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Markets await inflation data out Thursday morning which I am predicting could be slightly hotter than what economists are projecting. We also discuss the big jump in mortgage demand to start 2024.
SHOW NOTES
- Mortgage demand jumps 10% to start the year
- JOHN WILLIAMS remarks at Bronx EDC and BICNY’s 2024 Regional Economic Outlook, White Plains, New York
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer expectations for inflation improve to close out 2023, consumer credit climbs over $5 trillion for the first time ever, and rents in Wilmington fall for the fourth straight month.
SHOW NOTES:
- Consumers More Optimistic to Close Out 2023
- Wilmington Rents Fall for the 4th Time to Close Out 2023
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The North Carolina Rate Bureau submits for a 42% average increase with some parts of eastern North Carolina at 99.4% but these asks are unlikely to actually happen, a hotter-than-expected jobs report has some questioning what rates will do in 2024, and this week all eyes are on inflation.
SHOW NOTES:
- Homeowners Insurance in Coastal Carolina Could Rise By 100%
- Labor Market Still Hotter Than Expected to Close Out 2023
- THIS WEEK: All About Inflation
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales fall worse than expected and hit a new 13-year low, rent growth slows to a pre-pandemic low, and FOMC minutes show the Fed's take on housing...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Housing starts and building permits are better than expected in October, a short week gives us some housing and global inflation data, and all eyes are on the Boomers and when and/or if they sell their homes...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Inflation cools more than expected in October, the 10-year yield falls under 4.5% for the first time since September, and WSJ writes about how the realtor profession could change after the big NAR lawsuit...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Chairman Jerome Powell says the Fed is not confident the inflation fight is over and the markets get spooked, mortgage rates see the biggest dip in almost a year, and continuing jobless claims rise to the highest level since April....
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The housing market falls to the least affordable market since 1984, home prices continue to rise despite rising rates, and total household debt rises especially for those under 50...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Is the labor market cooling for maybe the 9th time, mortgage demand falls to a new 28-year low, and mortgage rates fall for the first time in eight weeks...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The National Association of Realtors lost a $1.8 billion trial that will undoubtedly change the real estate industry going forward with some thinking it will be a change for good while others think it will be a change for the worse. In other news, home prices hit an all-time high while consumer confidence fell to a 5-month low...
Show Notes
- NAR Loses $1.8 Billion Lawsuit in Earth-Shaking Verdict
- Home Price Growth Hits 7-Month High
- Consumer Confidence Fell for the 3rd Straight Month
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer spending rose more than expected in September, consumer prices held steady, and get ready for the busiest week this year with housing data, jobs data, and a Fed decision.
SHOW NOTES:
- Spending Higher Than Expected as Price Growth Stays Elevated
- This Week: Fed Decision, Housing, and Jobs
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Retail sales growth is more than double economist expectations in September, the 10-years hit a new 17-year high, homebuilder confidence falls to a 9-month low, and Wednesday is a busy day for inflation and residential construction...
SHOW NOTES:
- Retail Sales Rise More Than Expected in September
- Homebuilder Confidence Falls to a 9-Month Low
- 10-year Treasury yield closer to 5% after U.S. data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home affordability hits a 24-year low in the third quarter of 2023, home prices hit all-time highs in August, and we have a busy week ahead with home builder data and global inflation.
SHOW NOTES:
- Housing affordability falls for the fourth straight month
- Single-Family Home Prices Hit All-Time High in Q3
- This Week: Housing Data & Global Inflation
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: On the 300th episode we discuss the BIG jobs report on Friday showing the labor market is still very hot, it's a slow week for data but we will get CPI & PPI towards the end of the week, and I am introducing a new local newsletter for Wilmington real estate.
SHOW NOTES:
- Employment Skyrockets in September
- This Week: All About Inflation
- The new Wilmington Weekly
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Speaker Kevin McCarthy is out of a job as 8 Republicans voted with 208 Democrats to oust the speaker of the house for the first time in history, job openings rose to a 3-month high in August, and home prices hit new all-time highs in August...
SHOW NOTES
- McCarthy Ousted as Speaker
- Job Openings Jump to 9.6M in August
- Home Prices Rise for 7 Straight Months
- Home prices continue to rise hitting a new high in August
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The government shutdown was averted in the 11th hour with a 45-day pause before we are right here again, it is jobs week as we await data to see if the labor market is continuing to cool, the Fed's preferred inflation gauge was slightly better than expected on Friday, and inflation in the Euro is showing signs of improvement.
SHOW NOTES:
- Shutdown Averted
- It's Jobs Week
- Inflation Increases Slightly Less Than Expected in August
- Euro Area Inflation Slows More Than Expected in September
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: It is Fed decesion day but more eyes on the predictions vs. the actual rate decision, homebuilder confidence falls into negative territory, residential construction is mostly positive, and rent growth falls back to pre-pandemic levels...
READ MORE
- Homebuilder Confidence Falls For 2nd Straight Month
- Mostly Positive Residential Construction Report in August
- Rents Growth Slow for the 15th Straight Month
- NICK TIMIRAOS: An Important Shift in Fed Officials’ Rate Stance Is Under Way
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A new report from the San Francisco Fed finds that the impact of rate hikes can last much longer than originally thought, over 80% of home buyers are taking climate risks into consideration when buying a home, the trade deficit is lower than expected, and mortgage demand falls to a 27-year low...
- Monetary Policy's Lasting Effects
- 83% of Prospective Home Buyers Consider Climate Risk
- Mortgage demand drops to 27-year low
- Trade deficit lower than expected in July
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Producer prices came in a little hotter than expected, consumer prices were a little better than expected, and housing continues to keep inflation elevated which means the Fed is in quite the conundrum if higher rates are actually pushing up home prices which are 40% of Core CPI...
NOTES:
- Housing To Blame For Inflation
- U.S. wholesale prices surprise to the upside in July, PPI shows
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price gains every month this year have now erased all the losses of 2022 and have brought home prices back to all-time highs. Affordability is now at the worse level maybe ever and Thomas Philipson in the Wall Street Journal argues the only way to save the housing market is by lowering rates...
NOTES:
- Home Prices Erase 2022 Correction in June
- THOMAS PHILIPSON: How High Mortgage Rates Fuel Inflation
- Mortgage demand drops again after FHA loan interest rate hits 21-year high
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Friday's jobs report seemed to confirm a pattern that the labor market is in fact cooling, the bond market rallied after the report which is good news for mortgage rates, and now all eyes turn to inflation data later in the week
NOTES:
- The Cooling Labor Market
- This Week: Inflation Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Busy morning with some headline numbers on ADP and mortgage demand as we deep dive into job openings dropping in June, construction spending rising for the 6th straight month, and home prices rising for the first time in 13 months...
NOTES
- Job Openings Fall to a Two-Year Low
- Construction Spending Rises in June
- Home Price Growth Rises for First Time in 13 Months
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Fed's preferred inflation gauge was pretty damn good in June, markets prepare for jobs week, and Bloomberg reports on the growing pent-up demand for housing...
NOTES:
- Fed's Preferred Inflation Gauge Falls To Two-Year Low
- This Week: It's Jobs Week
- BLOOMBERG: Lots of US Homeowners Want to Move. They Just Have Nowhere to Go
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: All eyes are on the Fed as the FOMC will announce a likely 25 basis point increase to the federal funds rate, home prices climb for the fourth straight month despite home prices falling year-over-year, consumer confidence rises to a two-year high, and mortgage demand falls for the first time in three weeks...
NOTES:
- Home Prices Continue to Fall in May
- Consumer Confidence Jumps to Two-Year High
- Mortgage Demand Falls as Rates Stay Elevated
- BLOOMBERG: Who Wants to Keep Hiking Rates and Who Doesn’t? Breaking Down the Fed’s Views
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The May Case-Shiller report shows home prices staying in negative territory for the second-straight month but saw a bigger-than-expected monthly gain, Chicago took the number one spot from Miami with the most home price growth, and housing inventory rose to the highest level since the start of the year.
LINKS
- Housing Inventory Hits Highest Level Since Start of 2023
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Welcome to the busiest week of the summer as we prepare for home price and sales data, a fed decision, Q2 GDP first look, and inflation data. We also break down existing-home sales from June and discuss Robert Shiller's latest comments on the housing market...
SHOW NOTES
- This Week: Fed Decision, GDP, & Home Prices
- Existing-Home Sales Fell More Than Expected
- ROBERT SHILLER: A 10-year rally in U.S. home prices could be coming to an end
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rent growth falls to pre-pandemic levels, jobless claims fall to a three-month low, and bond yields jump ahead of the existing-home sales report...
- Rent Growth Falls Back to Pre-Pandemic Lows
- Jobless Claims Fall to Lowest Level Since May
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence rises for the seventh straight month, residential construction pulls back in June after a big May report, inflation falls globally, and mortgage demand rises slightly for the week...
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Retail sales rise but are less than expected, inventory levels continue to rise, rate lock volume falls slightly in June, and it's a big week for construction and global inflation data...
SHOW NOTES:
- Retail Sales Rise Less Than Expected
- Inventory Levels Continue To Climb
- Rate Locks See a Slight Dip in June
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: After a little confusion I finally realize how much producer price growth has fallen (haha), jobless claims fall more than expected, and some members of Team Transitory decide to spike the football, and bond yields continue to fall...
SHOW NOTES:
- Inflation Cools Faster Than Expected
- U.S. wholesale inflation slows to a crawl
- US weekly jobless claims unexpectedly fall
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A better-than-expected CPI report shows inflation falling to the lowest level since March 2021, core inflation also falls more than expected, mortgage demand rises slightly despite rising rates, and home prices climb in May...
SHOW NOTES:
- The consumer price index slowed to 3% year-over-year in June
- Mortgage demand rises 0.9%
- Home Prices Rise for Fourth Straight Month
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: So much for the housing crash as home prices hit a new all-time high in May, inventory levels fall for the first time in 10 weeks, and North Carolina is the top state to do business in for the 2nd year in a row...
SHOW NOTES:
- Home Prices Hit New Record High in May
- Housing Inventory Falls For First Time in 10 Weeks
- North Carolina is top place to do business according to CNBC
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Despite an underwhelming jobs report on Friday bonds yields continue to rise as traders unwind bets that the Fed's rate hikes would rapidly cool inflation and all eyes will be on the consumer price index on Wednesday.
Show Notes:
- June's Jobs Report Miss Expectations
- This Week: Inflation & Home Prices
- WSJ: Recharged Bond Rout Unnerves Investors
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Construction spending jumps more than expected in May, housing inventory rises for the 8th straight week, and it is jobs week with a really big Thursday data drop...
Notes
- Construction Spending Rises 0.9% in May
- Inventory Rises For 8th Week
- A short jobs week with a busy Thursday
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The third reading for the first quarter surprised with an upward revision to 2.0% which has pushed bond yields up over 10 basis points, jobless claims fall to a 4-week low, mortgage demand hits a 7-week high, and we prepare for a Smörgåsbord of data the next 7 days...
NOTES:
- First-quarter economic growth was actually 2%
- Jobless claims in U.S. drop to four-week low
- Mortgage Demand Rises For The Third Straight Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Case-Shiller shows negative home price growth for the first time since 2012 but also shows home price growth increasing for three straight months, FHFA HPI shows home price growth increasing for four straight months, mortgage demand rises for the third week, and consumer confidence hits a 17-month hight.
NOTES:
- Home Prices Go Negative For First Time Since 2012
- New Home Sales Jump 12% in May
- Mortgage demand rise for the third straight month
- Consumer confidence leaps to 17-month high
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer prices in May slowed more than expected with the headline number falling to 4.0%, rate lock volume jumped over 14% in May, and housing inventory rose for the 8th straight week.
- CPI Report Shows Inflation Has Been Cut in Half From Last Year’s Peak
- Rate Locks Rise in May Despite Jump in Rates
- Housing Inventory Rose For the 8th Straight Month
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A new report from NAR highlights just how severe the housing inventory problem is for middle-income buyers, it is a busy week with inflation data and a decesion from the Fed, and rate lock volume rises slightly in May.
- Affordable Inventory Problem
- This Week: Fed Decision
- Mortgage Locks Saw Modest Rise in May
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth rose for the third straight month in April, economists predict home prices will end the year up about 4%, UK home prices fall into negative territory for the first time since 2012, mortgage demand falls for the fourth straight week, and rates continue to hold...
- Home Prices Rise For Third Straight Month
- UK house prices post first annual drop since 2012
- Mortgage demand falls for fourth straight week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homer prices rise for the fourth straight month as credit tightens in the industry, CoreLogic also shows home prices rising, inventory levels rising for the third straight week, and rates look to hold steady ahead of the big week...
- Home Prices Rise For Fourth Consecutive Month
- Housing Inventory Rises For Third Week
- CoreLogic: Home prices rise in April
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Friday's jobs report once again beats estimates which starts up chatter that the Fed is not done raising rates, the 10-year treasury jumps with a hotter-than-expected jobs report, a slow week for data ahead of CPI and Fed meeting next week, Black Knight report shows home prices rising for the third straight month, and producer prices slow to the lowest level in over two years in Europe.
- Economy Creates 339k Jobs in May
- Home Prices rise slightly in April
- This Week: Housing Data
- Euro Zone Producer Prices Down For 7th Month In April
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
The debt ceiling agreement overwhelmingly passed the House and is now headed to the Senate for final approval, job openings jump over 10 million again but quits continue to fall, ADP shows a big jump in May, and mortgage demand falls for the third straight week.
- Debt ceiling bill passes House, moves to Senate as deadline nears
- Job Openings Jump Back Over 10 Million
- Private payrolls rose by 278,000 in May, well ahead of expectations, ADP says
- Mortgage Demand Falls For Third Straight Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
Home prices slowed in March but remained in positive territory after a big month-over-month gain, consumer confidence fell less than expected in May, mortgage demand continues to fall as rates climb, and all eyes remain on Washington as the House is set to vote on the debt ceiling deal...
- Home Price Growth Slows But Remain in Positive Territory
- Consumer Confidence Falls Less Than Expected in May
- Mortgage demand drops to the lowest level in three months
- Debt Ceiling Debate Moves Toward A House Vote
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
Debt ceiling deal announced over the weekend is good news for mortgage rates if it can pass both chambers, a ton of important data for a short workweek, bad inflation rate report on Friday has some worried about future rate hikes, and the latest Case-Shiller report shows that home price declines could be over...
- Debt Ceiling Deal Reached Before Default
- This Week: Jobs & Housing Data
- Uh-Oh: Inflation Data Unexpectedly Jumps in April
- Home price declines may be over, S&P Case-Shiller says
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
European markets take a dive overnight after a higher-than-expected inflation report in the UK, new home sales unexpectedly jump to a 12-month high in April, and a Twitter pundit claims NINJA loans are coming back despite the fact that her example is not a NINJA loan...
- European markets are getting hammered this morning after UK inflation report
- New home sales jump to a 12-month high
- The NINJA loan that's not a NINJA loan
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
New home pending sales jumped for the fifth straight month in April to the highest level since last April, housing inventory jumped for the first time in three weeks but remains down 14% from the beginning of the year, and markets are down ahead of new home sales data which is expected to fall 3.0%...
- New Home Pending Sales Rise For 5th Straight Month in April
- Inventory Rises For The First Time In Three Weeks
- Markets Down Ahead of New Home Sales Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Jobless claims once again beat economist projections, a new report shows investor interest in real estate is falling back to pre-pandemic levels, and it is jobs week so all eyes will be on Friday's nonfarm payroll...
Sources:
- THIS WEEK: It's Jobs Week
- The Death of Investor Buying Has Been Greatly Exaggerated
- Jobless Claims Unexpectedly Fall
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth slows faster than expected in December, pending home sales skyrocket to start 2023, consumer confidence unexpectedly falls in February, and Miami retakes the top spot for those looking to move...
Sources:
- Home Price Growth Slows Faster Than Expected
- Pending Home Sales Jump 8.1% To Start 2023
- Consumer Confidence Unexpectedly Falls
- Everyone Wants To Move To Florida
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
Summary: January's PCE price index was the worst-case scenario with the index actually increasing for the month, new home sales jumped way more than expected, and it's a busy week for housing data.
- Fed's Prefered Inflation Guage Hotter Than Expected
- New Home Sales Skyrocketed To Start 2023
- This Week: Housing Data
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Mortgage demand falls to a 28-year low, mortgage jump for the third week in a row, total home value in the US falls $2.3T between June and December, and jobless claims stay under 200k...
Sources:
- Mortgage Demand Falls To 28-Year Low
- Mortgage Rates Jump For Third Week
- Homeowners Lose Trillions
- Jobless Claims Stay Under 200k
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales disappoint to start 2023, home prices could fall into negative territory in February, housing inventory levels continue to fall, and single-family rents continue to slow...
Sources:
- Existing-Home Sales Unexpectedly Fall To Start 2023
- Single-Family Rent Growth Slows For 8th Straight Month
- Housing Inventory Falls For Fourth Straight Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Investor activity in the housing market sees the biggest year-over-year drop on record, crash bros who were once worried about too much investor activity are now worried about too little investor activity, Zillow apparently sucks at doing mortgages, Annie Lowrey in the Atlantic breaks down the housing theory of everything, and its a slow week ahead for economic data.
Sources
- Investor Purchases See Biggest Drop Ever
- Zillow Signals More Pain Ahead in Online Real Estate
- This Week: Housing Data
- Everything Is About the Housing Market
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Producer Price Index comes in much hotter than expected, new housing data is underwhelming, retail sales are much hotter than expected, home builder confidence sees a decade-high jump, and mortgage rates jump for the second straight week.
Sources:
- Housing & Inflation Data Disappoints
- Inflation Data Disappoints
- Mortgage Rates Increase For Second Week
- Retail Sales Jump Even More Than Expected
- Home Builder Confidence Reports Biggest Jump In A Decade
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Consumer price growth slowed in January but not as much as economists were expecting thanks to a big jump in housing costs as well as food and energy prices, rate lock volume jumps over 30% in January showing resiliency for the mortgage industry, housing inventory defy expectations and continue to fall, and Conor Sen writes that higher rates might be in the housing markets best interest...
Sources:
- Slowing Price Growth Slowed
- Mortgage Demand Jumps To Start 2023
- Higher Mortgage Rates Is What the Housing Market Needs Now
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth slows to 6.9% year-over-year growth in December, home prices are now down 3.0% from the peak, power buyers that popped up during the housing boom are not likely to last much longer in a new slower market, and consumer credit sees the smallest monthly increase in two years...
Sources:
- Home Price Growth Falls To 6.9% To End 2022
- Cash Is No Longer King
- Credit Crunch
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home prices dip 5.0% to end 2022, homes affordability improves slightly in December, January's purchase demand sees the biggest jump in over 5 years, and inventory levels fall to 6-month lows...
Sources:
- Home Prices Fall 5.0% From Peak
- Housing Inventory Falls Again
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: January's jobs report crushes expectations with over 500k new jobs and an unemployment rate at a 50-year low, some economists raised concerns that this number is too big and there could be seasonal measurement errors, and this week has some economic reports but its kind of a light week after last week's overload of data...
Sources:
- Huge Jobs Report To Start 2023
- This Week: Government Money
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homeowner equity falls slightly in the fourth quarter of 2022 but remains almost double pre-pandemic levels, Fed Chair Jerome Powell announces rate hikes are staying the course, construction spending falls more than expected to end 2022, and jobs data seems to show a continued tight labor market...
Sources:
- Home Equity Falls Slightly For Frist Time Since 2020
- Fed Hikes Rate By A Quarter Of A Point
- Construction Spending Falls More Than Expected
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth slowed to levels not seen since 2020 in November while some major metro areas in the southeast remain relatively hot and consumer confidence unexpectedly fell to start 2023...
Sources:
- Home Price Growth Falls To Lowest Level 2020
- Consumer Confidence Unexpectedly Falls
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Stephen Curry goes full NIMBY as the city of Atherton looks to build an affordable housing development near his $30 million mansion, Wall Street investors are currently getting their clock cleaned by amateur housing investors as the myth of the Wall Street housing behemoth is destroyed, and Altos Research reports housing inventory falling to the lowest level since June 2022...
Sources:
- Stephen Curry Gos Full NIMBY
- From Bad To Worse: Wall Street's Housing Bet
- Housing Inventory Falls 1.4% For The Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Pending home sales unexpectedly increased in December which was the fourth report showing positive housing sales in December, new inflation data shows price growth is slowing as spending falls for the second month, and it's a busy week with the big Fed decision on Wednesday...
Sources:
- Pending Home Sales Unexpectedly Rise to End The Year
- Inflation Slows As Expected As Spending Falls More Than Expected
- This Week: The Fed, Jobs, & Home Prices
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Mortgage demand jumped 7% for the week which is the third straight week of increases to start 2023, pending home sales and foreclosure data is all good sign for housing to end 2022, and Goldman Sachs has a warning for some housing markets...
Sources:
- Mortgage Demand Up For The Third Week
- Pending Sales Up & Foreclosures Remain Down
- Warning From Goldman
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A new survey finds that 28 million people want to buy a home in 2023 and new home pending sales fell for the year but were up in December...
Sources:
- About 28 Million Americas Would Like To Buy A Home In 2023
- Positive Pending Sales To End The Year
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Record number of people looking to move in Q4 of 2022 looked outside their metro area, inventory levels remain stagnant as we start 2023, and apparently gas stoves aren't just a current political football they apparently can also help a home's resale value...
Sources:
- High Costs & Rates Push Wannabe BuyersInto Other Metros
- Housing Inventory Unchanged From Last Week
- Gas Stoves Move Homes
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales plummet in November as mortgage rates hit a 20-year high, mortgage demand is up for the second week in a row, and consumer confidence jumps to a 10-month high in December...
Sources:
- Existing-Home Sales Fell 7.7% in November
- Mortgage Demand Rises Two Weeks In A Row
- Consumer Confidence Jumps To End The Year
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Building permits were down big, housing starts were better than expected, and housing completions saw double-digit growth in November. Single-family rent growth falls into single digits for the first time in 14 months and Bloomberg editors call out NIMBYs...
Sources:
- Residential Construction Mixed in November
- Single-Family Rent Growth Falls Into Single-Digits For The First Time In 14 Months
- BLOOMBERG EDITORS: When Housing Is For Locals Only, The Whole Country Suffers
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Despite projections that we could see a positive move in December homebuilder confidence fell every single month in 2022 but the good news is we might be near the bottom and housing inventory fell for the seventh straight week and prices also continued to fall...
Sources:
- Homebuilder Confidence Falls Every Month This Year
- Housing Inventory Down Seven Weeks & Counting
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Fed announces a 50 basis point hike to end the year but their projections for the future and the press release give off a hawkish tone and mortgage demand increases for only the second time in the last three months...
Sources:
- After Four 75 Basis Point Hikes The FOMC Ends The Year With a 50 Bip Hike
- Mortgage Demand Rises For The Second Time In The Last Three Months
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Inflation falls more than expected for the second month in a row, asking rents post the smallest increase in 15 months, and Alexis Leondis writes in Bloomberg that waiting for home prices to drop is a bad strategy...
Sources:
- Inflation Falls More Than Expected in November
- Asking Rents Post Smallest Increase in 15 Months
- Waiting For Home Prices To Drop? Bad Strategy
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rate lock volume falls for the 8th straight month, inventory falls for the 6th straight week, and we talk plans for 2023 with the podcast...
Sources:
- Rate Lock Volume Falls Over 21% in November
- Housing Inventory Falls For The 6th Straight Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Continuing claims jump to the highest level since February, mortgage rates see the biggest drop since 2008, and cracks in the short-term rental goldmine begin to show...
Sources:
- Continuing Claims Reach Highest Level Since February
- Mortgage Rates See Biggest Decline Since 2008
- The Housing Slowdown Is Wreaking Havoc on the Short-Term Rental Market
- Americans Are Building Vacation-Home Empires With Easy-Money Loans
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth slows to 10.1% in October and 2023 will see positive home price growth according to CoreLogic, Redfin makes its projections for 2023, and housing could now help slow inflation...
Sources:
- Home Price Growth Slows to 10.1% in October
- Redfin's Predictions for 2023
- Could Housing Help Lower Inflation?
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price appreciation slows to single digits for the first time in two years, inventory levels continue to fall, and its kind of a boring week for economic data...
Sources:
- Home Price Appreciation Slows To Single digits in October
- Housing Inventory Falls 2.5% to Start December
- Happening This Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Latest PCE index shows inflation falling to the lowest level since January, personal spending and income both up in October, Jobless claims fell more than expected, and mortgage rates fell for the third straight week...
Sources:
- Inflation Falls to Lowel Level Since January
- Mortgage Rates Fall for the 3rd Week
- U.S. Jobless Claims Fell Last Week, Showing Solid Labor Market
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The ADP report came in smaller than expected and job openings fell as expected AND Chairman Jerome Powell also telegraphed a smaller rate hike in December giving hope to some that the labor market might officially be cooling. In other news, pending home sales fell less than expected and mortgage demand fell despite mortgage rates also falling last week...
Sources:
- Job Openings Fall As Expected to 10.3M in October
- Pending Home Sales Fall Less Than Expected in October
- Mortgage Demand Falls Along With Rates
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The conforming loan limit will jump 10% to $726,200 in 2023, home price growth slowed to 10.6% year-over-year in September, and consumer confidence fell in November...
Sources:
- Conforming Loan Limit Will Jump 12% In 2023
- Home Price Growth Slows To 10.6% In September
- Consumer Confidence Falls in November
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Feels good to be back after a three-week hiatus! We discuss the busy week ahead for data, confusion about the future of housing, housing inventory, and what I was doing for the last two weeks...
Sources:
- Happening This Week
- Housing Inventory Down For The Fourth Week
- LEVIN: Rising Inventory Will Be The Housing Market’s Next Problem
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Total mortgage demand fell for the 7th straight week but purchase demand was up slightly, golden handcuffs are confirmed with 99% of outstanding mortgages under 6.0%, and Redfin announces layoffs for over 800 workers...
Sources:
- Mortgage Demand Down For 7th Straight Week
- Higher Mortgage Rates Lead to Strong Lock-in Effect
- Redfin Announces Layoffs & End of iBuying
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: New home inventory hit a record high in the third quarter of 2022, potential buyers have misconceptions about what is going to happen with rates and home prices, and all eyes are on the big CPI report on Thursday...
Sources:
- New Home Inventory Hits Record High in Q3
- Home Buyers' and Sellers' Biggest Misconceptions in a Shifting Market
- Happening This Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home prices and equity fall in September, consumer confidence in housing falls to new lows, and inventory levels hold for the first time in three weeks...
Sources:
- Home Prices & Equity Fall in September
- Consumer Confidence in Housing Falls to Record Lows
- Inventory Levels Fall Slightly for the Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home equity rises in the third quarter despite rising rates, initial jobless claims drop slightly for the week, and mortgage falls under 7.0%…
Sources:
- Home Equity Was Up Slightly in Q3
- Jobless Claims Basically Unchanged for the Week
- Mortgage Rates Dip Under 7.0%
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Federal Reserve announces a 75 basis point hike to the federal funds rate, ADP reports that the economy created 239k jobs in October, and mortgage demand falls for the sixth straight week...
Sources:
- Federal Reserve Announces 75 Basis Point Hike
- 239k Jobs Created in October
- Mortgage Demand Falls for the Sixth Straight Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home prices fell month-over-month for the third consecutive month in September, construction spending was much better than expected, job openings were up unexpectedly, and Tyler spends a whole minute trying to figure out if Selma is a woman's name (not kidding)...
Sources:
- Home Prices Fall for the Third Straight Month
- Construction Spending Unexpectedly Rises in September
- Job Openings Jump Back Up to 10.7M
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rent prices see the biggest monthly decline in October, housing inventory increases again as buyer demand falls, and it's jobs and the fed week so we get a ton of jobs data along with the FOMC decision on Wednesday...
Sources:
- Rent Prices See Record Decline in October
- Housing Inventory Continues to Climb
- Happening This Week
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home price growth sees the biggest declaration on record in August, consumer confidence falls more than expected in October, and homebuilders who learned their lesson in 2008 are prepared for the 2022 housing slowdown...
Sources:
- Home Price Growth Deceleration Largest on Record
- Consumer Confidence Falls More Than Expected
- Builders Say They Are Prepared for Slow Down
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Existing-home sales in September fell but also fell less than expected with the South (of course) dominating all other regions, mortgage rates were up but not as much as expected, and initial jobless claims fell unexpectedly...
Sources
- Existing-Home Sales Fall Less Than Expected
- Mortgage Rates Stay Under 7.0%
- Jobless Claims Fall to 214k
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Census Bureau's September construction was better than expected and the South (of course) continues to dominate, mortgage demand falls to a 25-year low, and the Fed's beige book tells us what we already know about the housing market...
Sources:
- Housing Starts Are Down but Permits & Completions Are Up
- Mortgage Demand Falls to 25-Year Low
- Fed's October Beige Book: Housing is Cooling
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Homebuilder confidence fell more than expected and not even the South could save this October report, rent growth slows for the fourth month, and the suburbs are now more valuable than the cities...
Sources:
- Home Builder Confidence Falls for 10th Straight Month
- Rent Growth Slows for a Fourth Consecutive Month
- Suburban Space Now More Valuable Than Cities
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Retail sales were flat in September according to the mixed report from the Census Bureau however when adjusted for inflation sales were actually down 0.4% for the month, New York may finally be breaking free from the NIMBYs, and we got reports on homebuilder confidence, housing starts, and existing-home sales later this week...
Sources:
- Retail Sales Were Flat in September
- Happening This Week
- Is New York Ditching NIMBYism?
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: No spinning September's CPI report was bad across the board from food to energy to shelter costs it was just bad, mortgage rates hit a 22-year high after another quarter point jump, and social security recipients get an 8.7% COLA increase that is likely to hasten the demise of the entitlement program...
Sources:
- Inflation Hotter Than Expected in September
- Mortgage Rates Hit 20-Year High
- Social Security Recipients To Recieve An 8.7% Increase
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Mortgage standards tighten to a level not seen since 2013, rising rates are burning home flippers, and consumer expectations about inflation fall to a low not seen since September 2021...
Sources:
- Mortgage Availability Decreases in September
- Home Flippers Getting Burned By Housing Slowdown
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Rate locks fall double digits in September thanks to mortgage rates skyrocketing, inventory leveled off after three weeks of gains, and another great piece from the New York Times on the death of the starter home...
Sources:
- Rate Locks Fall 10% in September
- Inventory Levels Off for the Week
- If America Needs Starter Homes, Why Are Perfectly Good Ones Being Torn Down?
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The second report in as many days finds that home prices fell for two months in a row at the end of the summer and the latest JOLTS report brings hope to those looking for relief from inflation but the data is incomplete...
Sources:
- Home Prices Fall for the Second Month
- Job Openings Plummet in August
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Home prices fall for the second month and the two-month slide is now the biggest since January 2009, rising rates are pushing buyers off the table which means slightly higher inventory levels, and Axios writes about the golden handcuffs keeping the housing market stuck...
Sources:
- Two-month Home Price Slide Biggest Since '09
- Rising Rates Pushes Inventory Levels Up
- The Housing Market Is Stuck
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: August was a great month for new home sales but pending home sales fell 2.0%, mortgage demand returned to its downward trend, and waiting to buy could have cost some homeowners $120k...
Sources:
- Pending Home Sales Fall 2.0% in August
- Mortgage Demand Returns to Downard Trend
- An Almost $120,000 Swing
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This website is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: A bizarre day for housing data started with the Case-Shiller index reporting that home prices in July slowed at the fastest pace in the index's history while. This was expected. However, what was not expected was New Home Sales skyrocketing 28.2% in August thanks to a huge jump in sales in the South which now represents 68% of all new home sales in the country...
Sources:
- Biggest Home Price Deceleration on Record in July
- New Home Sales Skyrocket in August
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: Chairman Jerome Powell has made it very clear that they are trying to rebalance supply and demand with their latest action. There is just one problem, it's not working. If the Fed really wants to bring back more balance to housing they need to cause a recession which will reduce household formation and help reduce demand AND increase supply.
Sources:
- The Fed's Housing Problem
- Inventory Rises for the Second Week
- Rents Drop for First Time in Two Years
DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201
SUMMARY: The Census Bureau reports that building permits fell more than expected while housing starts were much better than expected in August and rent prices have now slowed for the third month in a row in July according to CoreLogic, and Conor Sen writes about the changing divide with today's housing slow down versus the '08 crash...
Sources:
- Building Permits Plummet But Housing Starts Jump in August
- Rent Growth Slows for the Third Straight Month
- A New Set of Housing Winners and Losers is Emerging
SUMMARY: Homebuilder confidence falls for the 9th month in a row staying in negative territory nationally while the South barely holds on to positive territory and inventory levels rise for the first time in over a month as rents see a slight decline from the highs earlier this summer...
Sources:
- Homebuilder Confidence Falls for the 9th Straight Month
- Inventory Levels up Slightly for the Week
But wait, there's more:
Sign Up for the companion newsletter delivered every morning before 6 AM!
SUMMARY: Retail spending beats economists' predictions with a 0.3% increase in August and Mortgage rates cross the dreading 6.0% threshold according to Freddie Mac after almost dropping below 5.0% just one month ago...
Sources:
- Retail Sales Better Than Expected in August
- Mortgage Rates Climb Over 6% For The First Time Since '08
SUMMARY: CoreLogic debunks one of many conspiracy theories about Wall Street distorting the housing market, mortgage demand falls for the fifth straight week, and Conor Sen at Bloomberg says now might be a good time to buy a house...
Sources:
- Wall Street Not To Blame for Skyrocketing Home Prices
- Mortgage Demand Falls for the 5th Straight Week
- CONOR SEN: Homebuyers Might as Well Take the Plunge
SUMMARY: The August CPI report was much worse than expected as almost everything hit a 40+ year higher and wage data shows that real wages are negative thanks to sky-high consumer prices...
Sources:
- Inflation Hotter Than Expected in August
- The Wage Problem
SUMMARY: Despite predictions of inventory armageddon housing inventory levels have now fallen for the second week in a row according to Altos Research, rate lock volume plummets in August and is now down 57% year-over-year, and consumers are starting to feel more optimistic about inflation in the near future...
Sources:
- Housing Inventory Falls For Second Week
- Rate Lock Volume Down Almost 9.0% In August
- Consumer Inflation Concerns Fall For Second Month
SUMMARY: Black Knight's July report shows home prices falling 0.7% month-over-month which was the biggest drop since January 2011, The Fed's latest Beige Book confirms that housing is slowing, and mortgage demand falls for the fourth week in a row...
Sources:
- Home Prices Fall In July by Largest Amount in 11 Years
- Mortgage Demand Falls For The Fourth Week
SUMMARY: New data from CoreLogic reports the first month-over-month month decline post-pandemic in July and Governor Gavin Newsom steps up his game to fight the NIMBYs in California...
Sources
- Home Prices See A Major Slowdown In July
- Newsom Fights The NIMBYs
SUMMARY: Construction spending was down slightly for the month but is still up year-over-year, mortgage rates continue to rise, and jobless claims fall for the third straight week on a mixed week for jobs data...
Sources:
- Construction Spending Falls For The Second Month
- Mortgage Rates Continue To Climb
- Jobless Claims Fall for the Third Straight Week
SUMMARY: Home price growth slowed more than expected and for the third month in a row, Florida took the top spot in Q2 for home price growth, Consumer confidence was up more than expected in August, and job openings were supposed to fall but actually jumped to 11.4M to end July...
Sources:
- Home Price Appreciation Slows in June
- Consumer Confidence Jumps More Than Expected
- Job Openings Increase in July
SUMMARY: It was maybe the slowest news day we have ever seen so we discussed a WSJ article on how the mighty Zillow's stock has fallen almost 70% from its high last year and may still have room to fall as well as the big stories happening later this week from the Case-Shiller Home Price Index to the Nonfarm payroll...
Sources:
- Don't Short Housing, Short Zillow
- Happening This Week
SUMMARY: Investment activity in single-family markets plummets in Q2 as higher rates and concerns about the economy worry investors, jobless claims fall for the second straight week, and Freddie Mac's weekly survey shows a big jump in mortgage rates...
Sources:
- So Much For Investors Buying Up All The Homes
- Jobless Claims Unexpectedly Fall for the 2ND Week
- Mortgage Rates Jump to High Level Since June
SUMMARY: Finally some good news for housing as pending home sales only fall 1.0% in July and Lawrence Yun argues we could be near the bottom, mortgage demand falls slightly for the week, and President Biden announces a plan for student loan relief...
Sources:
- Pending Home Sales Only Fall 1.0% in July
- Mortgage Demand Falls for the 2nd Week
- President Biden Announces Student Loan Relief
SUMMARY: New homes sales plummet 12% in July and are now at levels not seen since 2016, The South continues to dominate representing 67% of all home sales for the month, new poll finds that 76% of potential buyers are less likely to buy because of rising rates and prices, and the U.S. office glut has been in the making for decades...
Sources:
- New Home Sales Plummet 12.6% in July
- Higher Prices Impacting Housing & Consumer Behavior
- U.S. Office Glut Decades in the Making
SUMMARY: Redfin reports that home sales in July fell to the lowest level since mid-2000 but inventory levels fell as well, Altos Research reports that inventory levels for the first time since April did not increase week-over-week, Apartment units are being built at the fastest rate in 50 years, and Alexis Leondis says do not get a 40-year mortgage...
Sources:
- July Home Sales Dropped To Lowest Level Since 2020
- 50-Year Construction High Could Slow Rent Growth
- ff
- ALEXIS LEONDIS: Resist the Siren Song of 40-Year Mortgage Loans
SUMMARY: Housing starts surprised economists by falling 9.6% in July while building permits were better than expected & housing completions were actually up for the month and new data from Redfin shows that over 16% of housing purchase agreements saw the buyer pull out in July.
Sources:
- Housing Starts Fall Nearly 10% in July
- More Potential Buyers Backing Out of Deals
SUMMARY: Homebuilder confidence fell below the breakeven point for the first time since the pandemic, 78% of Americans think the housing market is going to crash and are ready to buy when it does, inventory growth has slowed to a crawl, and Allison Schrager at Bloomberg argues that The Fed’s damage to the housing market may last years...
Sources:
- Homebuilder confidence falls under 50
- 78% of Americans think the housing market is going to crash
- Inventory growth slows to a crawl
- ALLISON SCHRAGER: The Fed’s Damage to the Housing Market May Last Years...(Bloomberg)
SUMMARY: Black Knight's mortgage monitor report finds the biggest month-over-month change to home price growth in 50 years, CoreLogic's Home Prince Index slows for the second month in a row to the slowest rate since October, Job openings fall more than expected in June, and more people are turning to credit cards to fight higher inflation...
Sources:
- Home Price Growth Slows At Quickest Pace in 50-Years
- Home Price Growth Slows to 10-Month Low
- Job Openings Fall Under 11 Million
- Household Debt tops $16 trillion for the first time
SUMMARY: Pending home sales fell more than expected and, of course, the South continues to be the bright spot, the Fed announces another 75 basis point hike, and mortgage demand falls for the 4th week in a row...
Sources:
- Pending Home Sales Fell More Than Expected in June
- Fed Raises Rates By 75 Basis Points
- Mortgage Demand Falls For 4th Straight Week
SUMMARY: News home sales fell 8.1% in June and thank God for the South that represented 66% of all new home sale activity, the Cash-Shiller index reports that home price growth has slowed for two months in a row to the lowest level since January, and consumer confidence falls more than expected to a 17-month low...
Sources:
- New Home Sales Fall 8.1% in June
- Home Prices Slow For Second Month
- Consumer Confidence Falls to a 17-Month Low
SUMMARY: Inventory levels continue to rise but the pace slowed considerably, foreclosures & delinquencies rise in June but are still half of the pre-pandemic levels, and a new report finds 80% of millennials lived within 100 miles from where they grew up...
Sources:
- Inventory Growth Continues to Slow
- Delinquencies & Foreclosures Rise in June
- Study Finds Millenials Staying Put
SUMMARY: Mortgage rates rise for the second week in a row, the debate continues about what the Fed should do with interest rates, and a new report says the price-rent ratio is now tilting in favor of renting in 76% of the top 50 metro areas...
Sources:
- Mortgage rates rise for the second week in a row
- It's Becoming Cheaper to Rent
- The Fed Shouldn’t Raise Interest Rates Too Quickly
SUMMARY: Existing-home sales fall 5.4% in June as inventory levels and home prices continue to move higher, concern is growing that the Fed's policy to reduce demand could also end up hurting supply, and mortgage demand has fallen to a 22-year low...
Sources:
- Existing-Home Sales Fall 5.4% in June
- Mortgage Demand Falls to 22-Year Low
- America Still Needs Homes
SUMMARY: Building permits and housing starts were down for the month but they didn't fall as much as expected, the Fed's attempt to lower demand could also end up lowering supply, and Rob Warnock at Apartment List writes about household formation during the last two years that caused an explosion in demand for housing...
Sources:
- New Construction Falls But Not as Much As Expected
- More Than Two Million Households Disappeared & Then Reappeared During The Pandemic
- Housing Supply Woes (Axios)
SUMMARY: Homebuilder confidence collapsed in July with the biggest monthly drop since the pandemic however things are still quite positive in the South if you are looking for a silver lining, inventory levels continue to rise but Altos Research says rising inventory is starting to slow before falling again at the end of the year, and Ali Wolf has a great piece in MarketWatch that calls NIMBYs I have a new hero...
Sources:
- Homebuilder Confidence Plummets in July
- Housing Inventory Forecast for the Rest of 2022 (Altos Research)
- ALI WOLF: Only 10% of new homes now sell for less than $300,000... (MarketWatch)
SUMMARY: Inventory saw a year-over-year increase for the first time since 2019, a new report finds that housing is underbuilt by 3.8 million homes in 2019, and jobless unexpectedly rise...
Sources:
- Housing Underproduction Doubles in 7 Years
- Inventory Levels Rise For First Time in 3 Years
- Jobless Claims Rise to 244k
SUMMARY: The CPI report from June was awful because not only was it worse than expected but it was broad-based which means there is no one category to blame, Greg Ip writes that are a lot of optimistic thoughts about inflation that are mostly wrong, and Kevin Muir writes about the fiscal consequences of this monetary problem...
Sources:
- Inflation Rate Hits 9.1% in June
- GREG IP: Beware Wishful Thinking About Inflation and Recession (WSJ)
- KEVIN MUIR: The Cost of Taming Inflation Will Be Exorbitant (Bloomberg)
SUMMARY: Asking rents slow to the lowest year-over-year increase since October, high housing prices could keep inflation data elevated, and Jonathan Levin argues limited supply might not save home prices...
Sources:
- Asking Rent Slows in June
- Housing Could Keep Inflation Elevated
- JOHNATHAN LEVIN: Housing Inventories May Not Save Prices After All
SUMMARY: Rate lock volume drops 11% in June and is now down over 40% thanks to refis falling off a cliff, residential real estate deals fell apart at the highest rate since April 2020 last month, and a new financial product is hoping to keep lumber prices from fluctuating so much...
Sources:
- Rate Lock Volume Falls 11% in June
- Lumber Futures Are Getting a Makeover
- Home Sales Are Getting Canceled at the Highest Rate Since the Start of the Pandemic
SUMMARY: Jobless rose unexpectedly for the week, the ADP report is nowhere to be found, Mortgage rates see the biggest drop since 2008, and Jonathan Levin argues that housing could be a problem for the Fed's rate decisions at the end of the summer...
Sources:
- Jobs Unexpectedly Rise
- Mortgage Rates See Biggest Drop Since '08
- LEVIN: Housing Stands in the Way of a September Fed Pivot
SUMMARY: Mortgage demand fell for the first time in four weeks despite rates dropping for the second week in a row according to the Mortgage Bankers Association, home affordability hits a 40-year low despite inventory levels increasing and year-over-year home price growth falling, and job openings fall but less than expected in May...
Sources:
- Mortgage Demand Falls for the Fourth Time in Four Weeks
- Home Affordability Hits a 40-Year Low
- Job Openings Fell Less Than Expected To End May
SUMMARY: New report shows home prices slowing in May, a forecasting firm says home prices in the US should correct by 5%, and billionaires went from the best year ever to the worst year ever...
Sources:
- Home Price Growth Slowed to 20.2% in May
- Forecasting Firm Predicts 5% Home Price Decline
- 2022 Has Been the Worst Year for Billionaires
SUMMARY: Mortgage demand was up for the third week in a row even though year-over-year comparisons fell for the week, Federal Reserve Chair Jerome Powell said they are going to do what is necessary to get inflation back to 2%, and John Auther says rising rates is impacting non-bank mortgage lenders in a way they have not experienced in the last ten years...
Sources:
- Mortgage Demand Up For Third Week In A Row
- Powell Talks Inflation
- JOHN AUTHERS: Disquiet Over the Housing Market Is Only Growing...(Bloomberg)
SUMMARY: April's Case-Shiller report showed a slight drop in home price growth for the month which hasn't happened since November 2021 and could be a sign the housing market is now officially slowing, consumer confidence falls to the lowest level in 4-months thanks to inflation, and John H. Cochrane says the Federal Reserve can't fix inflation by itself...
Sources:
- Home Price Growth Slows in April
- Consumer Confidence Falls to a 4-Month Low
- COCHRANE: The Federal Reserve Can’t Cure Inflation by Itself (WSJ)
SUMMARY: There were more housing flips in Q1 but those flipping saw their profit margins fall to the lowest level in 13 years, mortgage rates continue their climb, and the labor market remains tight but are job offers being rescinded a sign it is beginning to loosen up...
Sources:
- Home Flipping Spikes Across U.S. in First Quarter of 2022 But Profits Drop to 13-Year Low
- Mortgage Rates Continue to Rise, Hitting 5.81%
- U.S. labor market remains tight; business activity slowing
- More Companies Start to Rescind Job Offers
SUMMARY: Despite skyrocketing rates demand to purchase a home was up for the second week in a row and is now only down 10% from one year ago but the bad news, according to Redfin, is purchasing power for wannabe be homeowners has been greatly diminished...
Sources:
- Mortgage Demand Up For 2nd Week
- Homebuyers on a $2,500 Monthly Budget Have Lost $118,000 in Spending Power This Year Amid Surge in Mortgage Rates
SUMMARY: Existing-home sales fall in May but not as much as expected, the median home price hits another record, and rent growth hits 14% after a year-over-year increase for the 13th month straight...
Sources:
- Existing-Home Sales Fall Less Than Expected in May
- Rent Growth Streak Hits 13th Months
SUMMARY: Housing starts and building permits plummet in May but housing completions did see an uptick and mortgage rates did not have a very good week seeing the biggest jump in rates in 45 years...
Sources:
- Housing Starts Fall 14% in May
- Mortgage Rates Hit 13-Year High
SUMMARY: The Fed announces a 75 basis point hike to the fed funds rate and Chairman Powell talks the housing market, mortgage demand was up for the first time in 5 weeks, and homebuilder confidence fell more than expected to a low not seen since the pandemic but looks can be deceiving...
Sources:
- The Announces 75 Bip Hike
- Homebuilder Confidence Falls More Than Expected
- Mortgage Demand Up For The First Time In 5 Weeks
SUMMARY: Prashant Gopal over at Bloomberg has an interesting piece about short-term rental loans that could be a concern for vacation areas but not the overall market, producer prices fall but not by a lot, and the markets are pricing in a 75 basis point hike for the Fed...
Sources:
- Is Airbnb The New Subprime
- Producer Prices Fall Slightly to 10.8%
- Inflation Demands Bold Fed Action
SUMMARY: Rate lock volume fell in May which means volume has fallen in 3 of the last 4 months, Altos Research has more evidence housing is slowing, the Fed could hike rates 75 bips on Wednesday, and Mark Zandi says even if we go into recession home prices will only fall 5.0%...
Sources:
- Rate Locks Continue To Fall In May
- Fed Likely to Consider 0.75-Percentage-Point Rate Rise This Week
- These 40 ‘overvalued’ housing markets could see 15% to 20% home price declines if a recession hits
SUMMARY: Homeowners made $3.8 trillion year-over-year in the first quarter of 2022, jobless claims were higher than expected, and with all the new ideas to make a cash offer on a home will that matter when the housing market normalizes?
Sources:
- Homeowners Gained $3.8T in Equity in Q1
- Jobless Claims Jump to Highest Level Since February
- Home Buyers Finding Creative Ways to Make All-Cash Offers in Hot Market
SUMMARY: Mortgage demand falls to a 22-year low and newbies freak out, economists say there is no housing bubble but a recession is likely, and former Senator Rudy Boschwitz says we gotta fix social security...
Sources:
- Mortgage Demand Falls To 22-Year Low
- Economists: Recession? Yes. Bubble? No.
- RUDY BOSCHWITZ: Social Security Needs Saving Again
SUMMARY: It's deja vu all over again for home price growth as CoreLogic's HPI shows record price growth in April, consumer credit jumps to all-time in April, and Holden Lewis writes in Nerd Wallet that mortgage rates are likely to rise in June...
Sources:
- Home Prices See Record Growth...Again
- Consumer Credit Rises in April
- HOLDEN LEWS: Mortgage Rates Are In for a Bumpy Ride in June
SUMMARY: Great detailed piece by Conor Dougherty in The New York Times highlights how NIMBYs still don't think what they are doing is wrong and a new report from Black Knight has good and bad news for the housing market...
Sources:
- Twilight of the NIMBY (NYT)
- Black Knight's April 2022 Mortgage Monitor (BK)
SUMMARY: Wall Street Journal had two interesting pieces on the housing market in May of 2021 and June 2022, Jobs report surprises on Friday, and a slow week for data but we do get CPI on Friday...
Sources:
- Real-Estate Frenzy Overwhelms Small-Town America (WSJ)
- Housing Boom Fails to Lift All Homes Above Previous Cycle’s Peak (WSJ)
- U.S. Job Growth Remains Strong in May (NYT)
- The Week Ahead (MW)
SUMMARY: New Zillow survey finds that 50% of homeowners cried during the homebuying process, mixed jobs data from ADP and jobless claims, and a normal housing market could be right around the corner...
Sources:
- There's No Crying In Home Buying
- ADP Report Misses With 128k Jobs Created
- Jobless Claims Fall to 2ook for the Week
- Mortgage Rates Fall for Third Week
SUMMARY: Mortgage demand and rates fall for the third week in a row according to MBA weekly survey, construction spending was up but failed to meet economist expectations in April, and job openings fall but still remain elevated as the labor market remains tight...
Sources:
- Mortgage Demand Falls for the Third Week
- Construction Spending was Up But Missed Expectations in April
- Job Openings Fall Slightly
SUMMARY: No signs of slowing as Case-Shiller reports that March saw record home price appreciation, consumer confidence falls slightly in May, and Conor Sen writes at Bloomberg that you might want to wait a little longer if you are thinking of buying...
Sources:
- Home Prices Up 20.6% in March
- Consumer Confidence Falls Slightly in May
- CONOR SEN: Ready to Buy a House? Just Wait a Few Weeks
SUMMARY: Mortgage demand falls for the second week in a row despite a slight drop in rates and The Federal Reserve releases its minutes from the last meeting about the future of inflation, the labor market, and the overall economy...
Sources:
- Mortgage Demand for the 2nd Week
- The Fed is Optimistic about the Economy But Concerned About Inflation
SUMMARY: New home sales fall 16% in April but inventory levels rise, a new paper says the work from home boom was the majority reason for the housing boom, and a great piece by Jerusalem Demsas in the Atlantic points out that the left-wing liberals in Palo Alto stopping development seem a lot like the right-wing conservative who don't want immigration...
Sources:
- New Home Sales Plummet in April
- Remote Work Caused The Housing Boom
- JERUSALEM DEMSAS: The People Who Hate People
SUMMARY: Inventory levels start to climb but prices have yet to be impacted, a majority of American households were feeling financially sound at the end of 2021, and NIMBYs are beating YIMBYs by literally building in their backyards in California...
Sources:
- Inventory Levels Have Started Their Climb
- Feeling Good at the End of 2021
- Defeat NIMBYs by Literally Building in Your Backyard
SUMMARY: Bidding wars fall to a one-year low, Zillow revises 2022 projections downward in May, and Derek Thompson believes that the housing market has peaked
Sources:
- Bidding Wars Fall to a One-Year Low
- Zillow Revises Projections Downward in May
- Derek Thompson: The U.S. Housing Market Has Peaked
SUMMARY: Existing-home sales fall for the third month in a row but prices and inventory are up and continuing claims fall to a 53-year low...
Sources:
- Existing-Home Sales For The Third Month
- Continuing Claims Hit A 53-Year Low
SUMMARY: Housing starts and building permits underwhelm everywhere except in the South, mortgage demand falls double digits after two weeks of increases, and Megan Cassella argues in Barron's that Americans’ spending spree is making the Fed’s job tougher...
Sources:
- Housing Starts & Permits Underwhelm in April
- Mortgage Demand Falls Despite a Slight Drop in Rates
- MEGAN CASELLA: Americans’ Spending Spree Is Making the Fed’s Job That Much Tougher
SUMMARY: Retail spending jumps as expected but fails to meet price growth and rent growth hits a record in March with Miami seeing 40% year-over-year price increases...
Sources:
- Rent Growth Hits One-Year Record
- Retail Spending Up As Expected in April
SUMMARY: The Biden administration releases a plan to help with the housing inventory shortage, home equity continues to climb in Q1, and a lot of inflation data this week globally is released...
Sources:
- President Biden Announces New Actions to Ease the Burden of Housing Costs
- Home Equity Jumped In Q1
- Happening This Week
SUMMARY: The Producer Price Index was similar to CPI in that it showed a tiny drop but little relief in the grand scheme of things, Freddie Mac reported rates were up slightly for the week, and a new WSJ analysis found that the rent vs buy ratio has changed as home prices have skyrocketed these last two years...
Sources:
- Producer Prices Ease Slightly
- Mortgage Rates Ticked Up Slightly
- WSJ: Is It Better to Rent or Buy? What to Do in a Hot Housing Market
SUMMARY: CPI Shows that prices fell in April but not as much as expected, food and shelter costs continue to show no signs of stopping, and mortgage demand surprises for the second week in a row with a slight increase week-over-week...
Sources:
- Inflation Falls, But Less Than Expected
- Mortgage Demand Up for Two Weeks in a Row
SUMMARY: Mortgage delinquencies hit a 23-year low, most of the credit scores of mortgage borrowers in Q1 were above 760, and the work from home revolution is wreaking havoc on Miami and maybe immigration policy...
Sources:
- Delinquencies Drop to 23-Year Low
- Mortgage Originations By Credit Score
- Work From Props Up Rents But Not Immigration
SUMMARY: As rates rose in April rate locks plummeted with refis seeing the biggest swings, new data shows that inventory levels are starting to rise but prices haven't been impacted yet, and consumers are apparently a little more optimistic about inflation...
Sources:
- Rate Locks Fall Over 20% in April
- Prices & Inventory Up for the Week
- Consumer Outlook on Inflation Falls in April
SUMMARY: The Fed announced a 50 basis point rate hike along with a reduction in holdings by June 1st, Powell seemed concerned with the limited tools the Fed has to deal with this current inflationary environment, mortgage demand unexpectedly jumped for the first time in two months, and a record low number of Americans think it is a good time to buy a home...
Sources:
- Fed Raises Rates By 50 Basis Points
- Record Low in the U.S. Say It Is A Good Time To Buy
- Mortgage Demand Rises for the First Time in 8 Weeks
SUMMARY: Home price growth hit a 45-year high in March, the hot housing market is going to make the Fed's job to stop inflation harder, and the great resignation continues as job openings and quits each reached a new series high...
Sources:
- Home Price Growth Hits 45-Year High
- The Housing Market Makes The Fed's Job Harder
- The Great Resignation Continues
SUMMARY: The pandemic has created extraordinary wealth for homeowners that could actually end up making more NIMBYs and Black Knight reports that home affordability is close to historic lows which is forcing wannabe homeowners to get creative to afford a home...
Source:
- Pandemic Housing Market Creates Extraordinary Wealth
- Home Affordability Close To Historic Lows
SUMMARY: Pending home sales fall less than expected but are still down for the fifth month in a row, the South continues to dominate the other regions even with a slight drop, and mortgage demand falls for the seventh month in a row thanks to mortgage rates that are up 200 basis points year-over-year...
Source:
- Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009
- Pending home sales tumble for fifth straight month
SUMMARY: The Case-Shiller index reports home prices jumped 19.8% in February, the mountain region is the top region in February according to FHFA, and consumer confidence falls slightly in April as prices continue to rise...
Source
- Home prices jumped nearly 20% in February, but slowdown may be coming, S&P Case-Shiller says
- FHFA House Price Index Up 19.4% Year Over Year
- Consumer confidence slips in April, but Americans aren’t cutting back on spending
SUMMARY: Elon Musk officially buys Twitter and it probably won't have anywhere near the impact everyone thinks it will, Conor Sen writes that the tool to cause a housing slowdown is also hurting affordability, and Redfin & Altos Research all have data that shows things allowing, slightly, in housing...
Source
- Elon Musk Buys Twitter
- Homebuyer Competition Drops for First Time in Six Months Amid Surge in Mortgage Rates, Home Prices
- CONOR SEN: Don't Count On a Housing Slowdown to Improve Affordability
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage rates climbed for the 7th week in a row and are now 214 basis points higher than one year ago, buying a home is still cheaper than renting (for now ) according to Redfin, over 50% of homeowners with a mortgage have a rate under 4%, and Fed Chair Jerome Powell says a 50 bip hike is on the table...
Source
- Mortgage Rates Stay Above 5%
- Over a Third of Homeowners Have a Mortage Rate Under 4%
- Asking Rents Climbed 17% to a Record High in March
- Fed's Powell Seals Expectations of Half-Point Rate Rise in May
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Existing-home sales fall as expected while prices hit a new record and mortgage demand falls for the 6th straight week as rates continue to rise...
Source
- Existing-Home Sales Fall 2.7%
- Mortgage Demand Falls For the 6th Week in a Row
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Homebuilder confidence falls for the 4th straight month, Jonathan Levin argues to watch the Midwest for signs of a slowdown, and HOA's find a way to be even worse by trying to block investment properties...
Source
- More HOAs Look To Block Investors From Buying Homes
- Homebuilder Confidence Falls For Fourth Straight Month
- LEVIN: Housing Market Fever Starts to Break in Boise
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: The Dallas Fed is worried about a FOMO bubble forming, total mortgage demand falls as rates jump but purchase demand was actually up for the week, and private payrolls were up more than expected in March...
Source
- The FOMO Bubble
- Mortgage Demand Falls For The Third Straight Week
- Private Payrolls Beat Expectations
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Case-Shiller reports that home prices were up 19.2% to start 2022, a new report finds that real home prices are still 30% cheaper than the housing peak in 2006, and consumer confidence unexpectedly jumps in March...
Source
- Home Prices Jump Back Up to 19.2% to Start 2022
- More Proof it is Not 2008
- Consumer Confidence Increases Slightly
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Apparently a new report finds that spending copious amounts of money during the pandemic could be exacerbating inflation, condo prices rise with demand, and there be a light at the end of this inventory tunnel...
Source
- Apparently Spending Money Causes Inflation
- Condo Prices Jump As Demand Increases
- A Light at the End of the Inventory Tunnel
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgages jump to a 3-year high making home affordability a concern, Fed Governor Christopher Waller speaks about the hot housing market and its future, and jobless claims fall to a 53-year low...
Source
- Mortgage Rates Hit A 3-Year High
- Fed Governor Speaks on Hot Housing Market
- Jobless Claims Fall to a 53-Year Low
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: As mortgage rates climb refi demand is falling of cliff but purchases remain strong despite the downward pressure of prices & rates and new home sales unexpectedly fall in February while the South continues its dominance over the other geographic regions...
Source
- Refi Demand Falls 14% as Rates Continue to Rise
- New Home Sales Unexpectedly Fall in February
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: It is amazing how quick the 50 bip rate hike seems to have become a consensus, is panic buying causing buyer's remorse, and is a housing slowdown on the horizon?
Source
- Is a Slowdown in Housing on the Horizon
- Is Panic Buying Causing Buyer's Remorse
- 50 Bip Hike Becomes Consensus
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Finally the Fed announces a 25 basis point hike as everyone expected, homebuilder confidence falls for the third straight month, and mortgage demand falls for the week...
Source
- Fed Announces 25 Basis Point Hike
- Homebuilder Confidence Falls For Third Straight Month
- Mortgage Demand Falls Slightly For The Week
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Rents jump 12.6% year-over-year ( a 16-year high) with Miami seeing an astronomical jump and producer prices jumped 10% in February...
Source
- Rent Prices Continue to Rise in 2022
- Producer Prices Jump 10%
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Rate lock volume falls in February caused entirely by a drop in refis as purchases were up for the month and cash is still king in real estate...
Source
- Rate Lock Volume Falls in February
- Cash Is King Even With Inflation
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: It was a great decade to be a homeowner as homeowner wealth increased by $8.2 trillion between 2010-2020 and mortgage demand increased for the week as rates fell slightly...
Source
- It Was A Good Decade For Homeowners
- Mortgage Demands Jumps As Rates Fall
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: 6,000 homes have sold for $100,000 over the asking price in just the last two months and mortgage delinquencies hit an all-time low...
Source
- Homes Selling $100k Above Asking Double In 2022
- Delinquencies Fall To An All-Time Low
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Loan originations hit a new record in 2021 at $4.4 trillion and home prices and rents rise to start March...
Source
- Loan Originations Hit Record $4.4T in 2021
- Rent & Home Prices Up To Start March
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage rates fall for the second week in a row, mortgage volume falls in the Q4 of 2021, and jobless claims fall more than expected...
Source
- Mortgage Rates Fall Along With Volume
- Jobless Claims Fall More Than Expected
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Home price increases hit a 45-year high in January with 19.1% year-over-year growth and construction spending beats estimates by a lot as single-family spending jumps 15.4% y-o-y...
Source
- Home Prices Increase At Fastest Pace In 45-Years
- Construction Spending Up To Start The Year
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Inventories levels remain at historic lows pushing prices up, investors debate what a Fed balance sheet trimming will look like, and Fed President Raphael Bostic is still undecided the size of the rate hike in March...
Source
- Investors Debate What Fed's Balance Sheet Trimming Will Look Like
- Bostic Still Undecided On Rate Hike
- No Cool Off In Sight
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Pending home sales fell to start the year and inflation, once again, was hotter than expected...
Source
- Pending Home Sales Fall To Start The Year
- Inflation, Once Again, Hotter Than Expected
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: New home sales fall to start the year and are off almost 20% year-over-year and continuing claims fall to the lowest levels we have seen in 50 years...
Source
- New Home Sales Fall To Start The Year
- Continuing Claims Fall To Lowest Level In 50 Years
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: After a slight dip home price appreciation ticked up in December according to the Case-Shiller Index and FHFA Home Price Index and consumer confidence fell in February but not as much as expected...
Source
- Home Price Appreciation Is Back On The Rise
- Consumer Confidence Falls In February
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Existing-home sales jump to start the year, the South continues to beat all the other regions by far, and rent mortgage payments see all-time highs in February...
Source
- Existing-Home Sales Up To Start The Year
- Rents & Mortgage Payments See All-Time Highs
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage rates hit a 33-month high and housing starts were disappointing but building permits were promising in January...
Source
- Mortgage Rates Hit 33-Month High
- Housing Starts Fell More Than Expected To Start The Year
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Inflation concerns escalated as the Producer Price Index came in hotter than expected and politicians are looking to make it worse, rent growth hit a 16-year high in December, and the New York Times reports on the garage door nightmare...
Source
- Producer Prices Climb While Politicians Double Down
- Rent Growth Hit A 16-Year High in December
- The Garage Door Nightmare
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Rate lock volume jumped in January thanks to a big increase in purchases, consumer expectations for inflation fell for the first time in 16 months, and will commercial real estate in 2022 produce greenbacks or a bloodbath?
Source
- Rate Lock Volume Up To Start The Year
- Consumer Inflation Expectations Fall To Start The Year
- Commercial/Multi-Family Lending To Hit $1T in 2022
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Thanks to rising home prices and rates the monthly mortgage payment hit an all-time high last week, Zillow lost $881 million trying to flip homes in 2021, and with inventory levels at all-time lows, all eyes will be on housing starts data out on Thursday...
Source
- Monthly Mortgage Payments Hit All-Time High
- Zillow Was $811 Million Dollars Bad At Home Flipping
- Happening This Week
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: January's CPI beats expectations with 7.5% year-over-year price growth that puts a 50 bps hike in March back on the table and mortgage rates hit a 25-month high and are now almost a full point higher than one year ago...
Source
- Inflation Coming In Hot
- Mortgage Rates Hit A 25-Month High
- Vacation Homes Are Still Hot
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Household debt hits an all-time high in Q4 of 2021, the trade deficit also hits an all-time to end 2021, and wave bye-bye to a 50 bip hike
Source
- Record Borrowing In 2021
- Trade Deficit Ends 2021 At Record Level
- Bye-Bye 50 Bips
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Tappable equity almost hits $10 trillion, those who think it is a good time to buy hits a record low, and the middle-class is being priced out of the housing market...
Source
- Tappable Equity Almost Hits $10 Trillion
- Record-Low Think Buying A Home Is A Good Idea
- The Middle-Class Is Getting Priced Out
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: January jobs report is way better than expected, over 40% of homeowners are now equity-rich, and we got CPI data later this week...
Source
- Great Jobs Report To Start The Year
- Over 40% Of Properties Are Equity-Rich In Q4
- Happening This Week
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage rates stall for the week, jobless claims beat expectations, and the era of free money appears to be coming to an end...
Source
- Mortgage Rates Continue to Hold
- Jobless Claims Fall More Than Expected
- The Era of Free Money Comes To An End
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage demand jumps 12% thanks to a big jump in refi demand and the economy loses 300,000 jobs in January...
Source
- Mortgage Demand Jumps 12%
- Economy Loses 300k Jobs in January
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Home prices increased by 18.5% in December, Construction spending was up but missed estimates, and rising rents complicate the inflation battle...
Source
- Home Price Appreciation Hits 18.5% in December
- Construction Spending Misses In December
- Rising Rents Complicate Inflation Battle
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: 2021 is the most profitable year for home sellers, New construction listings hit an all-time high, and inventory levels continue to fall to new lows...
Source
- Home Profits Soar in '21
- New Construction Listings Hit An All-Time High
- Record Low Inventory Levels Continue
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: GDP jumps 6.9% in the fourth quarter to help the year grow at the fastest clip since 1984, Pending home sales fall more than expected in December, and, to everyone's surprise, mortgage rates hold steady for the week...
Source
- GDP Jumps 6.9% in Q4
- Pending Home Sales Fell 3.8% In December
- Mortgage Rates Hold For The Week
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Federal Reserve leaves rates unchanged but plants the seeds for future rate hikes, News home sales beat expectations and jumps by double-digits, and mortgage demand falls as rates rise.
Source
- Fed Keeps Rates Unchanged
- New Home Sales Jumped By Double-Digits In December
- Mortgage Demand Falls As Rates Rise
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: The Case-Shiller Index showed home price growth slowed to 18.8% in November, homebuyers looking to relocate remain near pandemic high, and consumer confidence falls in January.
Source
- Home Price Growth Slows to 18.8% in November
- Homebuyers Looking To Relocate Remains Elevated
- Consumer Confidence Falls In January
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Output growth falls to an 18-month low, new home pending sales fell in December, and for the 1,000th time NO, the housing market is not a bubble!Source
- Output Growth Falls to an 18-Month Low
- New Home Pending Sales Fell In December
- Redfin Says This Housing Market Is No Bubble
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage demand & rates jump for the week, construction starts & permits starts are also up, and inventory, unfortunately, was really down in December.Source
- Mortgage Demand Jumps Along With Rates
- Building Permits Soar To End The Year
- Housing Supply Falls To A New Low
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Single-family rents jump nationally by 11.5% in November, Homebuilder confidence unexpectedly dips slightly to start the year, and shipping containers skyrocketing prices have economists concerned. Source
- Single-Family Rents Continue To Skyrocket
- Homebuilder Confidence Dips To Start The Year
- Shipping Containers Skyrocket
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: New data from Altos Research points to another hot housing market with bidding wars to start 2022, retail spending falls more than expected to end the year, and is Cathie Wood over?Source
- Bidding Wars 2.0
- Retail Spending Falls 1.9%
- "When you're down by half, people figure you can go down all the way"
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Mortgage rates hit a 22-month high, PPI data shows inflation isn't going anywhere anytime soon, and foreclosure fall to an all-time low. Source
- Mortgage Rates Jump to a 22-Month High
- Inflation Continues
- Foreclosures Fall to an All-Time Low
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Inflation data is out and it is as expected, which means not good, as the index jumps 7% with food and energy seeing even higher numbers, mortgage demand is up to start the year, and M. Nolan Gray at The Atlantic says we have to stop fetishizing old homes.Source
- Inflation Hits 7% To End The Year
- Mortgage Demand Up To Start The Year
- Stop Fetishizing Old Homes
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: My mind is blown after reading Ramesh Ponnuru's latest op-ed that argues housing was the main cause of the 2008 economic collapse, a crazy stat finds 40% of people in Los Angeles have a 7 figure house but only make 5 figures a year, delinquency rates continue to fall, and Jerome Powell testifies on Capitol Hill.Source
- Housing Bubble? Not Now & Not Then
- Insane Stat in California
- Delinquency Rates Continue to Fall
- Powell Discusses a Return to Normal
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: It's inflation week and things are not looking good, rate locks drop double-digits in December, and predictions for 2022.Source
- Rate Lock Volume Falls To End The Year
- It’s Inflation Week, And It Doesn’t Look Good
- Predictions For 2022
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: New report finds that homeownership is more affordable than renting in 58% of the country, initial jobless claims unexpectedly rise during Jobs Report Week, and Mark Zandi writes that the housing market is overvalued but in no way a bubble.Source
- Homeownership still more affordable than renting...for now
- Jobless Claims Unexpectedly Rise
- Overvalued? Sure. But a Bubble? No.
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Home price growth in November tied the record high we saw back in August, Quits also jumped back up to an all-time high in November, and Zillow predicts another double-digit growth year.Source
- Home Price Growth Jumps Back Up
- Quits Hit an All-Time High
- Zillow Predicts 14% Growth in 2022
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
SUMMARY: Construction spending increases but the real boom is in single-family construction, Conor Sen explains why a shrinking population will not help make housing more affordable, and a historic preservation society fights to save a checks notes mall? Source
- Construction Spending Up In November
- CONOR SEN: U.S. Housing Crisis Only Gets Worse as Population Shrinks
- SAVE THE MALL
But wait, there's more...
SIGN UP: Markets & Mortgages Morning Newsletter
The Fed announces a double of tapering and more rates hikes (possibly) to deal with inflation, Homebuilder confidence ends the year strong especially in the South, and retail sales were positive but failed to meet expectations.
It's the Big 1-0-0! We discuss how millennials are dominating the housing market, PPI shows inflation ain't going anywhere, and the future of Markets & Mortgages!
Total rate locks fall in November but credit scores and purchases remain strong, we explain why home prices are up 20% but shelter inflation is still under 5%, and Hawaii's luxury market is booming
Jobless claims fall to a 50-year low, more evidence home equity is at all-time highs, mortgage rates hold steady for the third week in a row, and could we see a change with mortgage-backed securities
Home price growth is holding strong at 18% according to CoreLogic HPI, a debt ceiling deal has been reached, and excess savings are starting to dwindle
Tappable equity hits an all-time high at $9.4 trillion, Rent prices & occupancy continue to soar, and the Fed could double the taper to deal with inflation
More evidence that the housing market is slowing down as total mortgage loans and volume fell quarter-over-quarter for the first time since 2020, Mortgage rates are mixed for the week, and jobless claims increase but not as much as economists had projected.
The FHFA released its conforming loan limit for 2022 and WOW, Chase-Shiller & FHFA for the first time show home price growth is beginning to slow, and consumer confidence falls in November.
Christmas time comes to the Markets & Mortgages podcast! Pending-home sales jump 7.5%, new home sales jump 0.4%, and Kevin Williamson makes a great point about tariffs on Canadian lumber.
Real estate investors step it up a notch in Q3 but they aren't increasing purchases in the price range most think and Conor Sen says the best way to solve high rents & low occupancy in office space is to combine them...
Quartley metro report from NAR shows a slowing of home price growth across the country & jobless claims miss expectations but do fall for the 6th week in a row
The latest CPI data not only beats expectations but it hit a 31-year high and CPI jumps can no longer be blamed on certain products as the data showed it is now across the board jumps, Mortgages rates fell for the second week in a row which helped propel mortgage demand into positive territory which was the biggest jump since July.
The producer price index hits an all-time high and CPI is predicted to hit a 30-year high, rate locks fall almost 6% in October, and housing rentals are the hot investment right now.
The Fed announces that they are going to start tapering later his month, ADP jobs report shows 571k private-sector jobs created in October, and mortgage demand falls along with rates for the week.
Zillow announces they are shuttering their home buying program after admitting they are preparing to write down over $500 million because of the failure of the program, CoreLogic's September Home Pirce Index shows a slight slow down compared to August, and NIMBY's across the country are literally trying everything they can to lower prices instead of just building more houses...
Zillow is looking to sell 7,000 homes for around $2.8B after home flipping disaster, construction spending falls in September but year-over-year data remains positive, and could cash-out refis be the second incarnation of the refi boom?
Wages are rising but not as fast as inflation, steel & aluminum tariffs are going bye-bye, and crime is playing a big role in where people are deciding to live.
Pending home sales fall 2.3%, Q3 in GDP disappoints, mortgage rates climb for the third week in a row, and jobless claims fall to 281,000
Mortgage demand jumps despite rates mortgage rates moving up again and a new Elon poll shows the confusion surrounding housing in 2021
Case-Shiller reports the smallest year-over-year gain in over a year while FHFA HPI reports slower growth in August, New-Home sales were up in September, and consumer confidence jumps up for the first time since June.
Despite a rise in single-person households the supply of entry levels is shrinking, a new report shows that the North is still the most at risk of pandemic disruptions, and loans in forbearance fall to 1.1 million
Second-homes jump in September after a summer slump and that brings possible tax and legal headaches for the owners, Small cities had the best Q3, and mortgage demand fell as rates moved up
Just three weeks ago conspiracy theories were all the rave about Zillow and their home buying program and now Zillow is throwing in the towel on that very program, Housing starts slightly disappoints in September and rents continue to skyrocket at record-breaking levels
Total mortgage originations are expected to fall in 2022 but purchase originations are expected to climb the next two years, Homebuilder confidence beats expectations with a jump in September, and Americans are doing pretty damn good since the recovery started.
The latest CPI data shows inflation isn't going anywhere, mortgage rates rise but so does mortgage demand, and a new analysis says the U.S. housing supply is actually overbuilt
Rate locks fall in September as mortgages move up, Jobs openings fall in August & quits reach an all-time high, and loans in forbearance fall to 1.3 million
The big monthly jobs report was mixed at best but that is not going to stop The Fed from tapering. However, even if The Fed does taper that does not mean higher rates, and Nicole Friedman at the journal writes that in the housing market race appraisers are having trouble keeping up.
Skyrocketing home prices in 2021 could mean we see the largest confirming loan balance cap dollar amount increase in history, Jobless claims fall more than expected, mortgage rates fall under 3%, and Tyler continues (starts) the Halloween horror movie countdown
As the economy continues to recover and the delta variant wanes rates are starting to rise and it is putting downward pressure on mortgage demand, ADP monthly jobs report shows over 500k jobs created in September, and could a record trade deficit with sky-high tariffs lead to the repeal of said tariffs?
CoreLogic's Home Price Index shows home growth continued in August and in fact reached a record high, the trade deficit reached an all-time high in August thanks to an increase in imports, and The Fed double downs on inflation being transitory
Get ready for the four-day weekend FOREVER if one India start-up succeeds and loans in forbearance fall again but the latest report from Black Knight shows another sign that the housing market might be cooling
Despite predictions, the evictions crisis never happened even after the eviction moratorium was removed, rents hit all-time highs in September, and jobless claims rise for the 5th week in a row.
Pending homes sales jump 8% completely blowing projections out of the water, Mortgage demand falls slightly as mortgage rates rise for the first time in 6 weeks, and pocket listings continue to rise in popularity
Home price growth hits nearly 20% according to Case-Shiller & FHFA HPI but could this be a sign things are about to slow down, consumer confidence falls for the third straight month, and Senator Elizabeth Warren calls Jerome Powell a "dangerous man."
California takes the lead on the YIMBY revolution with two recent laws to spur building in the golden state, the hottest housing market in the country is Burlington, NC, and loans in forbearance fall under 3% for the first time since the pandemic started.
A real estate agent in Las Vegas posts the dumbest video on TikTok that goes viral and is easily debunked, new home sales jump in August, and the beach home subsidies are coming to an end.
Home equity jumps almost $3 trillion dollars in the 3rd quarter, home affordability falls in the second quarter, and mortgage rates hold steady for the week
Existing-home sales fall 2% but home prices continue their climb, demand for vacation homes falls in August, and mortgage demand jumps 5% for the week
Housing starts beat expectations, but single-family starts underwhelm, single-family rents skyrocket in July, and Silicon Valley invents a new kind of mortgage
Homebuilder confidence jumps slightly in September after a summer of declines, looking at Census data finds that the death of the suburbs has been greatly exaggerated, and loans in forbearance have fallen for 28 out of the last 29 weeks.
Prices were up in August but not as much as economists were expecting, New report shows poverty and income was down in 2020, and the housing shortage has only gotten worse.
Consumer expectations for inflation hit a series high proving that most people don't agree with Jerome Powell that inflationary pressures are transitory, Bidding wars start to slow down, and rate locks were up slightly in August thanks to cash-out refis.
Mortgage rates continue to hold steady as economic indicators from the economy continue to send mixed signals, initial jobless claims fall more than expected, and the U.S. budget deficit approaches $3 trillion dollars with just one month left in the fiscal year.
Home prices jump 18% but could growth have hit its peak? Toal loans in forbearance fall for the week and the housing shortage is even worse than most think.
Building permits & costs are up in Q2, and mortgages rates and jobless claims rise slightly for the week
Treasury announces new rules for the Rental Assistance Program that is still failing to meet the most modest of expectations, home prices continue their upward trajectory despite more signs the housing market is cooling , and mortgage demand is up for the week.
New homes sales beat expectations and prices hit all-time highs in July, Inventory levels are increasing but will that be enough to get some buyers off the sideline, and homestead exemptions could be the way to help with housing affordability.
Existing-home sales beat expectations & see an increase for the second month in a row, economists scale back forecasts for the second half of 2021, and total loans in forbearance fall for the 25th week in a row.
A new report shows young Millenials thrived during the pandemic, mortgage rates stay under 3% according to Freddie Mac, and initial jobless claims beat expectations.
July was a mixed month for home construction, Fed Minutes from July are released, and mortgage demand falls for the week
Homebuilder confidence falls to a 13-month low, retail spending falls worse than expected in July, and a new study looks at the 2008 housing crash with 2021 hindsight
Excited we are 50 shows in and looking forward to the next 50! More signs of cooling as Redfin reports on a slowdown in bidding wars, The Fed looks at tapering in the Fall, and total loans in forbearance fall for the 24th week in a row!
The latest data from the National Association of Realtors shows that 99% of metro-areas saw price growth in Q2, mortgage rates see across the board increases for the first time in weeks, and jobless claims meet expectations for the week
CPI data shows that inflation remains elevated in July, Mortgage demand is up for the week thanks to low rates, and bidding wars aren't just for buyers anymore.
Serious delinquencies fall to a pandemic low, productivity slows in Q2 but is now above pre-pandemic levels, and new data suggests the housing market could be losing some of the crazy
June's job openings hit an all-time high, loans in forbearance fall for the 23rd week in a row, and rate locks jump in June
July's Jobs report beats expectations and has economists feeling good about economic recovery, New data from Redfin shows signs the hot housing market could be cooling, and bad news on the housing inventory front as this shortage could last a decade.
Home equity skyrockets in Q2 & homes seriously underwater continue to dwindle, Jobless claims drop as expected, mortgage rates continue to fall, and the trade deficit increase in June.
The ADP jobs report is less than half of what was expected, mortgage demand falls for the week, and lawmakers are concerned about rising rents and home prices
The CDC announces a new eviction moratorium that looks very similar to the old one, Home prices jump 17.2% in June, and household debt rose in Q2 but its not as bad as headlines would suggest.
Construction spending increased slightly in June, loans in forbearance fell for the 22nd straight week, and tenants in the South could be the hardest hit by the eviction moratorium expiring.
Whole lotta news on this Friday morning. Pending homes sales fall for the month and missed forecasts, GDP first estimates for Q2 were high but missed also missed expectations, and home profit margins fell in the second quarter even though profits were up from Q1.
A new mortgage financial product has people thinking credit default swaps and 2008 are coming back, mortgage demand jumps for the week, and The Fed announces no changes but is the Fed more optimistic about the economy than the rest of the government?
Case-Shiller index shows 16% home price growth in May which was then beat by FHFA's Home Price Index which showed 18% growth. Consumer Confidence data was also released yesterday showed levels remained elevated but were flat from June to July.
CNBC may have jumped the gun declaring the housing boom over because June's new home sales report underwhelmed, loans in forbearance fall for the 21st straight week, and foreign investment into U.S. housing falls to a new low
The Biden Administration announces to help homeowners who can't afford their mortgage payments, New data shows this is the worst time to be a first-time homebuyer in decades, and the housing market has gotten so insane that some buyers have decided to just sit this one out
NAR's Existing-Homes Sales report shows sales, inventory, and prices were up in June, rental markets snapping back could mean inflation hangs around longer than expected, and jobless claims unexpectedly rise for the week.
Markets & Mortgages.com
Couldn't believe my eyes but housing inventory jumped in June according to RE/MAX's latest report, Mortgage demand falls for the week because of volatile rates, and the net worth increases the most for the least wealthy in 2020.
Get more info with the companion newsletter at MarketsandMortgages.com
Housing starts jump in June while building permits fall, rents jumped 6.6% in May but it's not as bad as it seems, and Billings, Montana is ranked number one in the quarterly WSJ/Realtor.com Emerging Housing Markets Index
Nick Sargen at Forbes argues the housing market is not a bubble, mortgage rate locks increase in June, loans in forbearance fall for the 18th straight week, and could the push to end globalization cause prices to spike.
Read the Markets & Mortgages companion newsletter
Could the hot housing market cause the rest of the economy to cool? Rents are starting to rise in smaller cities which just so happens to be the chosen destination for those who sell their houses for a ton of cash in bigger cities.
Consumer debt is back, Mortgage rates fell for the second straight week, jobless claims jumped slightly, and could the U.S. see a 4-day workweek?
Read about all these stories in the companion newsletter
Home prices jump 15.4% in May, loans in forbearance fall under 2 million, and the hot housing market didn't cause the home affordability problems it just exacerbated it.
Read about all these stories in the companion newsletter
We got some good and bad news for millennials. The bad news is the hot housing market is pricing many first-time homeowners out of the market, but the good news is they are about to be the recipient of the largest transfer of wealth in U.S. history. And speaking of good news, the June jobs report beat expectations with 850,000 jobs.
Home price appreciation hits an all-time high, Kevin Erdmann at Barron's explains why the housing market is not going to collapse, and consumer confidence reaches pre-pandemic levels.
-
Home Price Growth Hits All-Time High
-
Is The Housing Market About To Crash?
-
Consumer Confidence Up in June
The craziness in the housing market is about to transition to the rental market, the Fed discusses MBS purchases, and loans in forbearance fall for the 16th week in a row.
Spending & income see little movement in May but inflation jumps up big, the moratorium eviction is killing small landlords, and lumber prices may have hit bottom.
Housing affordability drops in Q2 2020 thanks to skyrocketing home prices, Jobless claims fall slightly for the week, and it was a busy day for the admin as they announce support an infrastructure deal and extend the eviction moratorium.
Home prices hit record highs as existing-home sales fall for the fourth straight month, homeowners are listing their homes at ridiculous prices to dare homebuyers to make them move out, and Blackstone is the latest investment firm to get in the real estate game.
Lumber prices fall giving hope that inflation might be transitory, housing inventory increases which could be a sign the housing market is cooling, and now that forclosure armageddon has faded policymakers need to focus on the eviction crisis
BlackRock is not the problem affordable housing advocates want you to think it is, developers get creative in a post-pandemic world, and down payments matter in a seller's market.
Housing inventory now has a deficit of 5.5 million homes, Housing starts increase slightly, and mortgage demand increases for the week
Inflation fears continue with the release of the latest PPI data, Consumer spending falls in May, Homebuilder confidence falls in June, and rich neighborhoods are missing out on the housing boom
Rate locks fall 4.7% in May, housing vouchers are not the answer, and loans in forbearance fall to just 2 million.
Home equity jumps $2 trillion dollars in Q1, Inflation jumps to 5%, jobless claims fall slightly, and the budget deficit hits $2.1 trillion with 4 months to go.
Mortgage delinquencies fall at all levels in March, Job openings & those quitting their jobs reach record levels, lumber prices continue to fall, and the trade deficit narrowed in April.
Vindication! The mainstream media is finally acknowledging a foreclosure crisis is NOT on the horizon, home prices jump 14.8% according to Black Knight, and homebuyers are becoming more pessimistic.
Home Prices jump 13%, Construction spending was up slightly in April, and most economists agree the housing market is overheated but no one can tell you when the party is going to end...
Pending Homes Sales fall but not in every region, Mortgage rates fall below 3%, and Jobless claims drop to just over 400,000...
Average closing times have dropped for four consecutive months, mortgage demands fall thanks to a drop in refis, and whisper listings climb in popularity
Home prices jumped 13.2% according to Case-Shiller and were up 20% according to the Census Bureau, Sales were down, but inventory was slightly up, and the CEO of Redfin had a great thread on Twitter that accurately describes where the market is right now
Loans in forbearance fell for the 12th straight week, Robert Shiller warns of high home prices, and the Commerce Department raises tariffs on lumber imports.
Existing-home sales fall for the third straight month, Home prices hit an all-time high, and Conor Sen at Bloomberg argues that housing could be the predictor as to whether or not the current inflation jumps are only transitory.
61% of homes in opportunity zones saw double-digit appreciation over the last year, Small-town, USA is feeling the heat from the red hot real estate market, and jobless numbers dropped again to the lowest level since the pandemic
Housing starts fall in April, Rents jump to 14-year highs, and are parking lots the root of our rising housing costs.
HOUSING STARTS: https://marketsandmortgages.com/housing-starts-fall-in-april/
SINGLE-FAMILY RENTS: https://marketsandmortgages.com/single-family-rent-hits-14-year-high/
MICHEAL MANVILLE: How Parking Destroys Cities
Homebuilder confidence remains strong in May, property taxes hit a 4 year high, and rate locks fall to levels not seen since before the pandemic.
It's a strong seller's market so the big question is when will it end? Plus, retail numbers are flat in April and it's another week so it's another record with regards to home prices.
The cheapest homes are the hottest right now, inflation is here but how long will it stay is the question, and household debt increases but its actually a good thing
The only thing shooting up more in value than homes may be gasoline, job openings hit a record, and home delinquencies rose slightly
Second-home demand skyrockets, even though consumers are starting to feel the pain of higher inflation they don't think it will last, consumers do expect an uptick in housing expenses though, and total loans in forbearance falls for the 10th week in a row
The mortgage boom is over, april's jobs report disappoints, & homebuying is officially the worst.