Posts by Lonnie Glessner

Here is a sign that mortgage rates will be lower in the next year or two as it’s been nearly impossible the last 3 weeks to offer a mortgage with zero discount points. Why? To do so, higher rate mortgage bonds have to be bought and sold and there is very little demand for higher…

Two weeks ago Fed Chairman Powell finally addresses the impact on housing by the huge increase in mortgage rates. He did say the Fed is not sure how higher mortgage rates will impact housing construction or how much higher rates will impact housing prices. But, they are watching this carefully. I find it intriguing that…

Aldo Svaldi wrote a story last for The Denver Post citing a Zillow study completed in May that showed the monthly payment on a typical metro Denver home was 55% higher than it was 12 months earlier. The “typical” payment is now $3394 a month according to Zillow. Is Zillow’s percentage correct? I reviewed median…

Last week Fed Chairman Powell spoke to the Senate on Wednesday and said the Fed needs to get inflation back down to 2%. He stressed that our economy is well positioned to withstand rate hikes, although he acknowledged that the war in Ukraine and supply-chain issues increase the risk of an economic slowdown. He also…

The Denver City Council recently approved their latest affordable housing policy that goes into effect on July 1st. The new rules require that 8% to 12% of all units in a development with 10 or more units be designated affordable housing for the next 99 years and this applies to both for-sale and rental development.…

Stories about home prices dropping locally and nationally. The media headlines are misinforming and I believe scaring consumers. Home prices are not dropping. First, home price appreciation is SLOWING DOWN not dropping. This is great news! For much of the last 2 years we have median home sold prices increasing by over 20% year over…

I believe one thing will determine my success and your success for the remainder of this year and next year. That one thing is your MINDSET. First, do you see opportunities or do you see obstacles? I believe FTHBs will be my key to success as they need my guidance and hand holding. Plus, renting…

Zonda, the top source for data and intelligence on the construction of new housing from SFR to apartments released an interview last week of their Multi-Family Managing Principal Kimberly Byrum. She was asked what is the rental market like? She said, “The market today can be categorized in two words: NO AVAILABILITY. Why? Our country…

The Fed and many other people are thinking that inflation year over year will start to drop this summer. But, will they be correct? Here is a graph below showing the monthly consumer price index changes for the last 12 months. Last July, August and September we had much lower monthly price increases but this…

The Fed on Wednesday somewhat surprisingly raised short-term rates by 75 basis points. It’s expected they will raise rates in July by another 50 bps or possibly 75 bps. The Fed’s interest rate dot plot shows that the Fed Funds Rate will be 3.40% by end of the year, which is an increase of 1.75%…