It cannot be disputed that your cash cow may have brought your organization success in the realm of profit for years. But does that mean it will be the best business strategy to stick with throughout 2024? Truthfully, the answer here has always been “yes and no” because the reality is not rooted in Either/Or — It is Both/And world! As new companies emerge and your well-established competition pursue new innovations, they are bound to bring new solutions to the table. You cannot afford to try to push the same old product or service alone when both your competition and the world is transforming around you!
If you have become one of those business owners who say to yourself, “I can either rely on what has worked in the past and count on it to continue to perform or I can abandon that success to pursue something completely new”, this is where your thought…
Are we there yet? No, not just yet! For months now we have seen social media and the “experts” share their thoughts on why rates would be going down significantly. This has caused many in our industry to predict lower rates and talk about 5%, even 4% or lower rates to come. The issue with that is that while lower rates may be in the future, many have hung their hats on this and are now suffering the fact that mortgage rates have yet to make that move as they had expected. While rates are certainly lower than they were last fall, far too may people are thinking about rates that are still far below where we can actually deliver today, and this is causing some people to miss out on opportunities to have bought a home and locked in a PRICE, while maintaining the ability to refinance later if…
Housing supply is finally rebounding as sellers get used to elevated mortgage rates, but it’s not rebounding enough to curb home price growth. High housing costs mean many house hunters remain hesitant to commit. New listings jumped 3.8% month over month on a seasonally adjusted basis in February to the highest level since September 2022, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They were up 14.8% year over year, the largest annual gain since May 2021. Active listings, or the total supply of homes for sale, hit the highest level in a year. They climbed 0.8% from a month earlier on a seasonally adjusted basis, and were little changed (-0.1%) from a year earlier–the smallest annual decline in months. New listings rose fastest from a year earlier in Texas and active listings rose fastest in Florida–the two states that have been building the most…
-- Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.74 percent. “The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent in two weeks’ time,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation. In this environment, there is a good possibility that rates will stay higher for a longer period of time.” News Facts The 30-year FRM averaged 6.74 percent as of March 14, 2024, down from last week when it averaged 6.88 percent. A year ago at this time, the 30-year FRM averaged 6.60 percent. The 15-year FRM averaged 6.16 percent, down from last week when it averaged 6.22 percent. A year ago at this time, the 15-year FRM averaged 5.90 percent. {loadmoduleid…
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