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Is this a Sign of Higher Rates to Come?
Last week’s Treasury auctions of 10 Year Bills and 30 Year Bonds did not go well which was surprising since yields had increased to their highest levels in several months. Thus, some pundits mentioned that “the smart money is betting that interest rates will rise” in the coming months as the supply of new debt…
Over 2 Million Jobs Added in October
• The October Jobs Report was much stronger than expected. Here are the details– • According to the business survey done by modeling showed that 638k jobs were added last month. I wonder if the people doing these models are the same people who do our political polls? • Whereas the household survey that is…
Why Are Homeowners Not Selling?
Zillow did a survey of homeowners and here is what they found. 34% of homeowners said uncertainty caused by COVID-19 is keeping them from selling. Much of this uncertainty is caused by financial anxiety due to job changes or losses. Also homeowners are concerned if they can find their next home or if they can…
Mortgage Rates Rise on Good News
The announcement yesterday morning by Pfizer about the results of their new COVID-19 vaccine caused jubilation in the stock market and a big sell-off in the bond markets. Pfizer announced that their vaccine that would be administered in 2 doses is 90% effective, to which Dr Fauci said, this is “extraordinary.” He also believes vaccinations…
A Great Reminder from Eliott Eisenberg
Since 1860, a Republican has occupied the White House for 95 years, a Democrat 65. The annualized S&P 500 return during the 65 Democratic years of control was 8.4%, 8.3% when the President was a Republican, a statistically insignificant difference. From 1929-2019 one party controlled both ends of Pennsylvania Avenue for 45 years and the…
Sub-Leased Office Space Increases by 72%
According to CBRE, a huge commercial RE firm there’s more than 4.3 million square feet of technically “occupied” office space, but this is space that is available for sub-leasing. Normally commercial leases are for 5-10 years at least and if a business no longer needs the space they try to sub-lease their space to a…
Ivy Zelman Speaks About the Election & Housing
Ivy Zelman, one of the top experts on our national RE market wrote last week on what could happen to housing if Democrats sweep into power. First, she cited how a $15k first-time homebuyer grant is the last thing our real estate markets need. She said, “Frankly, there is a long list of impediments constraining…
New Home Permits and Starts Are Down in Denver
According to the U.S. Census Bureau through August, new single-family home permits in the metro Denver area are down 7% year over year. While new residential starts which includes both single-family and multi-family are only down 3% year over year. It’s good to see that starts and permits are both down small amounts; but this…
$2 Million VA Loan with NO Money Down
I discovered with a new client that VA Jumbo Loans with NO MONEY DOWN are back! In fact, we can go up to a $2 million VA Jumbo Loan with no money down at an amazing rate. During the height of COVID this spring all VA lenders had returned to requiring a down payment on…
Some Good News on COVID
Some Good News on COVID There have been many news headlines about the increase in COVID cases which may be scaring people. I saw graphs on Monday that I wanted to share with you. Each of these numbers are the 7-day average for the week ending October 25th- Daily tests are averaging 1.10 million. I…
Will Rates Go Negative Next Year?
Mark Grant, Chief Global Strategist, Fixed Income for B. Riley Wealth Management wrote last week that he believes there will be HUGE pressure applied to the Fed next year by whatever party wins the elections in a week from today. Why? Currently, “adjusted for inflation, the sovereign debt of the world, with negative yields, now…
Colorado’s Unemployment Rate Keeps Dropping
Colorado’s unemployment rate in September dropped to 6.4% from 6.7% in August as the household survey showed an increase of 63k more employed workers. While the employer survey showed only 13,400 new jobs created last month as the private sector added 20,800 new jobs last month, but the government shed 7,400 jobs last month. Since…
