Posts by Lonnie Glessner

Fannie Mae’s Home Purchase Sentiment Index for July fell 2 points to 62.8 its lowest level since 2011. Only 17% of consumers said now is a good time to buy a home while 67% said now is a good time to sell a home. When I think back to 2011 that was the year our…

We offer Lock & Shop that allows homebuyers to lock in their interest rate BEFORE they are under contract on a home. We can lock in their rate for up to 90 days. And we combine this with our one-time interest rate float down option once they are under contract, their loan is approved by…

I have created a 20-minute Zoom presentation for our clients titled “Answers to The Top 5 Questions Homebuyers Need to Know Now.” It’s based off my new class that I have been teaching you. The 5 questions are— 1. How do rising mortgage rates impact home prices? 2. What happens to mortgage rates during a…

Last week 4 Fed members spoke and said they “are resolute and completely united” in fighting inflation and raising short-term rates and the Fed is nowhere near done fighting inflation. Charles Evans said a 50 bp rate hike in September would be appropriate, but a 75 bp increase may be needed. James Bullard wants to…

ATTOM Data Solutions reported that lenders repossessed or foreclosed on 20,750 properties in the first 6 months of this year, up 113% from last year when the federal government nearly outlawed foreclosures. But, if you compare 2022 to 2019, foreclosures are down 70% and are down 88% from 2017. · The national Case-Shiller Index showed…

Redfin released a report last week showing which housing markets are most vulnerable during an economic downturn as Redfin created a “risk score” based on these factors: home LTVs, the share of home sales that were flips, how quickly a housing market has cooled in the first 6 months, how much net migration, a market’s…

I have created a 20-minute Zoom presentation for our clients titled “Answers to The Top 5 Questions Homebuyers Need to Know Now.” It’s based off my new class that I have been teaching you. The 5 questions are— 1. How do rising mortgage rates impact home prices? 2. What happens to mortgage rates during a…

For the last few months jumbo loan rates have been about 1% lower than conforming loan amount rates. Jumbo loans begin at $684,251 in metro Denver. Why are jumbo loan rates lower? It’s because the Fed’s actions and plan to reduce their balance sheet has no impact on jumbo loans. Why? The Fed doesn’t own…

Realtor.com reported that median rent in June across the 50 largest metro areas climbed 14.1% from June 2021. This is the smallest increase this year. Maybe rental appreciation rates will slow down too. · Redfin reported that in June only 49.9% of listings were involved in a bidding war, the first time below 50% since…

The National Association of Home Builders released their June report— · Housing starts were down 2% to an annual pace of 1.56 million units. Single-family starts were down 8.1%. · Housing permits were down 0.6% last month and single-family permits were down 8%. · Housing units authorized, but not yet started, are up nearly 16%…