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What Will Happen to Mortgage Rates?
Last week the Treasury issued new 10 Year Bills and 30 Year Bonds and each auction went incredibly well with soaring demand. Rick Santelli from CNBC graded each auction an “A”. This tells me that there is great demand for bonds from private investors, mutual funds, ETFs, hedge funds, etc. which is great news. Second,…
CoreLogic Predicts Home Prices Will Drop 6%
CoreLogic forecasted last week that they believe home prices will drop nationally by 6.6% in the next year as they believe “buying will slacken at the end of summer and we expect home prices will show declines in metro areas that have been especially hard hit by the recession.” I can definitely see home prices…
Less than 1 Month of Inventory
Here are the stats for June for the 7 county Metro Denver RE Market courtesy of SMDRA. Buyers closed on 5,580 properties in June, an increase of 3.3% from June 2019. Attached home sales led the way with an increase of 3.6% in the number of sales vs 2019. Homeowners placed 6,757 new properties on…
Rivers of Progress
This story is from my friend Jonathan Manske whom I have hired to help me retrain my brain and my thinking and Jonathan has spoken many times at my Business Success Lunches. Jonathan writes a great daily blog that I subscribe to and I encourage you to do so as well. “Rivers don’t flow in…
Good & Bad News from the Supreme Court
The Supreme Court ruled last week that the 1 Director Model at the CFPB as currently constructed is un-constitutional. Why? Currently, the CFPB Director is nearly impossible to fire or to let go. Now any President can let the CFPB Director go for any reason like nearly every other leadership position in D.C. This is…
Important Housing Data
Black Knight reported that mortgage loan forbearances rose the week ending June 19th for the first time in 3 weeks by 79k. There are now 4.68 million homes in forbearance, which is 8.8% of all mortgages. But there are many people who are officially in forbearance, but they have still made their mortgage payments on…
How to Protect Your Clients from Metro Districts
I have written many times about Metro Districts and their impact on housing affordability and the danger they may pose to homeowners in the years and decades to come. But, many of you told me that wasn’t enough and that I should create and teach a class on Metro Districts. My new class is done…
How Working from Home Will Impact Housing
Before the pandemic only 3.6% of American workers worked full-time from home according to the U.S. Census Bureau. In mid-April a Gallup survey found that 51% of American workers were working remotely full-time and another 18% were working remotely some days each week as only 31% of workers were NOT working remotely in mid-April. Kate…
Why Stock Returns May Weaken
Bridgewater a private equity fund ran by legendary Ray Dalio warned that a reversal of the strong growth seen over the years in U.S. corporate profit margins, which have provided a big chunk of the excess return of equities over cash, could lead to a shift that would go beyond the current cyclical downturn in earnings. “Globalization,…
Good News from CHFA
CHFA has raised their income limits for the state. Here in metro Denver their income limit on their conventional loan program called Preferred is now $80,000. For their First Step program, using FHA financing, the income limit is $100k for a household of 1 or 2 and $115k for larger households. And for their First…
< 20% of High-End Renters Will Renew Their Lease
I read this story on Housing Wire last week released a story based on a survey of renters nationally. Only 26% of renters with leases expiring in the next 6 months are likely to renew their lease. 36% of renters are not likely to renew their lease. And 38% are somewhat likely or not sure…
How to Protect Your Clients from Metro Districts
I have written many times about Metro Districts and their impact on housing affordability and the danger they may pose to homeowners in the years and decades to come. But, many of you told me that wasn’t enough and that I should create and teach a class on Metro Districts. My new class is done…
