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…
Wow, a few weeks ago rates had fallen from a peak of over 7% to almost 6%. Unfortunately the party was short lived as rates are now heading much higher. The recent jobs report was another blow out upping the…
In only a couple of months, the world has changed substantially. In December, inflation was supposedly decreasing rapidly and the odds of a soft landing were non existent. Fast forward a few months and inflation is running hot, consumers are…
Beginning in March of 2023, Freddie Mac, the largest buyer of mortgages is drastically changing the seasoning requirements for any loans it purchases which basically means any new conventional conforming loan will have to follow the new rules. What big…
The market currently has a fixation on interest rates. Essentially whatever interest rates do the market reacts accordingly. For example if rates rise, sales fall and vice versa. Are rates really the driver of the slow down in real…
It is no secret that rent has skyrocketed throughout the country. Nationally rental growth peaked at 17.45% year over year in March of 2022. Some markets like NY and FL have exceeded over 31% rent growth annually. What are the…
It has been a wild ride in the treasury market. Rates spiked to 7.5%, but recently have plummeted back to below 6%? Now they are rising again. What does this mean for real estate sales? Will the lower rates be…
I hope everyone is having a happy holiday season. Before getting into my predictions for next year, there are three crucial factors to discuss that will shape the real estate market in 2023 and beyond: Interest rates, inflation, and consumer…