In almost every real estate advertisement I receive, there is a common theme that prospective buyers should not focus on the rate as they will be able to refinance relatively soon at a much lower rate. How true is this…
Like most, I have been surprised at the recent upward movement in prices. Did we just experience the shortest housing cycle ever? Are housing prices going to continue their recent upward swing? Why are housing prices now moving higher after…
Both the stock and bond markets are partying like its 99 again. Fannie Mae, the largest buyer of US mortgages, is not buying into the theory that a soft landing is the base case for the economy. What is Fannie…
Major banks are facing one of the biggest regulatory overhauls since the financial crisis of 2008, setting up a major clash over the amount of capital that they have to set aside to weather downturns. At the same time regional…
According to a recent Federal Reserve Report, fourteen million mortgages were refinanced during the COVID refinance boom, and these refinances will have effects on the mortgage market, real estate, and the general economy for years to come. An astonishing 430…
US labor productivity tumbled by 7.5% in the first quarter of 2023 – the largest decline in worker output per hour since 1947, according to Labor Department data released Thursday. What does declining productivity mean for interest rates, commercial and…
Although the market rejoiced in the recent fed “skip”, as you dig into the numbers more the outcome is a lot less sanguine. Why does inflation continue running hotter than anticipated? What does this mean for interest rates and real…
Interesting times we are in. Consumers keep spending big on services like travel and eating out, but on the flip side Home Depot just reported its first drop since the pandemic. On the other hand Target tops earnings estimates. …
No this is not a joke, I had to read the recent Fannie Mae press release multiple times to actually believe what I was reading. Who would have ever thought that someone with a high credit score above 740 would…
As a private lender, my call volume and closings the first quarter have been off the charts as borrowers fall out of more conventional products. This trend is now playing out with the Mortgage Credit Availability Index showing substantial tightening…