Why do consumers keep spending and how does this impact real estate

Why do consumers keep spending and how does this impact real estate

According to a recent Federal Reserve Report, fourteen million mortgages were refinanced during the COVID refinance boom, and these refinances will have effects on the mortgage market, real estate, and the general economy for years to come. An astonishing 430 billion...
Wages continue higher, productivity falls fastest in 75 years, impact on real estate, inflation, and rates

Wages continue higher, productivity falls fastest in 75 years, impact on real estate, inflation, and rates

US labor productivity tumbled by 7.5% in the first quarter of 2023 – the largest decline in worker output per hour since 1947, according to Labor Department data released Thursday.  What does declining productivity mean for interest rates, commercial and residential...
Hot inflation puts further rate hike in play, impact on real estate

Hot inflation puts further rate hike in play, impact on real estate

Although the market rejoiced in the recent fed “skip”, as you dig into the numbers more the outcome is a lot less sanguine.  Why does inflation continue running hotter than anticipated?  What does this mean for interest rates and real estate?  What happens when...
Home Depot slides, house prices stabilize, consumers will keep spending

Home Depot slides, house prices stabilize, consumers will keep spending

  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.  What is driving the continued...
Higher credit score borrowers pay more under new government rule

Higher credit score borrowers pay more under new government rule

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 be penalized for having a high score.  Under a new rule...
Harder for Borrowers to Secure a Loan in February, Credit Availability Hits record low

Harder for Borrowers to Secure a Loan in February, Credit Availability Hits record low

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 of credit for all...