The rapid rise in interest rates have caught some off guard and are making a challenging market even more so. However, it’s important to put a few things into context. 1. Rising rates are not unmanageable by a long shot, and rates in the 5% and 6% range are not going to cause a meltdown as some on social media might have you believe. 2. Home prices are not rising as fast as they did last year, but just because some sellers are reducing their asking price on homes, doesn’t mean the housing market is falling, it means that they aren’t rising as fast as they were. 3. While there aren’t as many buyers bidding on the same house as there was before, estimates are that there are still far more buyers than sellers as we speak. 4. Last year the average cost of a mortgage loan was about 2.96%…
Posted On Monday, 18 April 2022 00:00 Written by
I read recently that major league pitchers and catchers now have been given permission (the green light) by MLB to establish signals to counteract “signal stealing” by the opponents during a game. You certainly will recall the system that the Houston Astros were caught using during the 2017 MLB season. But just a minute, stealing signals has been part of baseball since Elston Howard moved from the Negro Leagues to catch for the New York Yankees.
Catchers have been changing signals to their pitcher even before Howard was sitting in that crouch in the Bronx. You’ve seen catchers waggle their fingers from a one or two and move their non-glove hand from one leg to the other. As a kid on the playground, it was simple “one” was a fastball: “two’ was a curve. That was about it. No sliders, no knuckleball, etc. Of course, this was before Little League…
Posted On Friday, 15 April 2022 00:00 Written by
What began as a classification of “bring your own personal electronic devices” to work or school has not only evolved exponentially over the past decade, but it has also become the new status quo. It is certainly safe to assume that every adult and most children have at least a phone, tablet, or personal computer that facilitates access to software, including apps and websites, that serve a variety of purposes. This increase in ability of the average person to be hyperconnected to the Internet and, in this Communication Age we find ourselves in, to each other is what I have referred to as the consumerization of information technology (IT).
Of course, what has transformed most notably is that the usage of those devices now intersects in integral ways with people’s professional lives as well as their personal ones. While this makes things easy for the consumer across several circumstances, it has…
Posted On Tuesday, 12 April 2022 00:00 Written by
 AJ Barkley is the Neighborhood and Community Lending Executive at Bank of America, where she identifies opportunities to drive responsible lending among low- and moderate-income borrowers, underserved communities, and multicultural borrowers across the economic spectrum. In her role, she is accountable for the end to end process, strategy through execution, for the company’s Community Reinvestment Act (CRA) commitment and fair lending laws and regulations for home loans, small business, and vehicle lending. She is also responsible for relationship deepening with multicultural, first-time homebuyers and low- and moderate-income consumers through strategic alignment with nonprofits, community advocacy groups, real estate professional organizations including homebuilders, and other key industry leaders. Most recently, AJ served as the bank’s interim Retail Sales East Executive, leading an organization of more than 2,000 employees who assist the bank’s Retail, Preferred and Global Wealth Management clients with their borrowing and banking needs, including mortgage, home equity, credit card,…
Posted On Monday, 11 April 2022 00:00 Written by
After more than a year if getting fiscal policy completely wrong and just making up stories about the economy, it seems the FED members all want the microphone and to share their opinions on how they are going to “fix” the very problem they created! Every time one of them speaks, the bond market loses its mind and tries to figure out what they are saying, and this creates wild movement, all pushing rates higher. As we have been saying here for quite some time, if you like it, LOCK IT! That said, it all goes back to PAYMENTS and how we can best help our clients maximize their borrowing power by helping them get into the best possible position to buy, even if rates and prices are going higher! 1. CREDIT! Credit is at the root of the cost of money, PMI, and insurance. Even just a modest improvement…
Posted On Monday, 11 April 2022 00:00 Written by
The industrial manufacturing sector has always been coined the “backbone” of the United States and the world. Whether it is supplying the population with goods, building integral pieces for lifesaving medical equipment, or providing lasting careers to millions of individuals, manufacturing is omnipresent in many ways. But recently, there seems to be more disruptions and uncertainties surrounding the manufacturing sector, all stemming from various sources. Companies in manufacturing are scrambling to find a solution to these disruptions and, more often than not, are floating around in neutral.
Regardless of the specific disruption interfering with each and every manufacturing company, there is largely one major arrow pointing directly at a Hard Trend future certainty that is not going away: the concept of next-generation manufacturing. This terminology may have older generations thinking of it as a “millennial or Gen Z takeover”; however, a shift in the age of the workforce in manufacturing…
Posted On Wednesday, 06 April 2022 00:00 Written by
As you watch these gifted athletes perform in the final game of the 2021-22 NCAA men’s basketball season (Yes, Alice, March Madness is finally over!) and marvel at their athleticism, you begin to wonder if they really appreciate their God-given talents. If you’ve been around athletes as long as I have, you have seen all levels of athletes, unless you have not been a close-up witness to the Special Olympics.
It was the mid-1970s when Teresa Brown called to invite me to be a celebrity presenter and hand out medals at the California Special Olympic Summer Games to be held at UCLA. It was an invitation I was honored to accept. When I drove into my UCLA parking place at about 9 a.m. that first day, I was surprised to see several hundred athletes already warming up for their events. Athletes of all ages, sizes and shapes were sprinting,…
Posted On Friday, 08 April 2022 00:00 Written by
The Masters Tournament is coming up next week, played where it only can be played at the Augusta National Golf Club in Augusta, Georgia, from April 7 through Sunday, April 10. This golf tournament announced by the voice of CBS Sports, Jim Nantz, is as he says, “unlike any other.” From personal experience I can truly say it is, indeed, unlike any other, and beyond. I have had the privilege of playing courses worldwide, and, without demeaning other wonderful golf courses — Augusta National is truly unlike any other. There are dozens of wonderful stories that come out of  Augusta. Here’s one that I like: “Are you crying? Are you crying? There’s no crying in baseball” shouts Manager Jimmy Dugan (played by Tom Hanks in the movie “A League of Their Own”) to player Evelyn Gardner’s (played by Bitty Schram) outpouring. But there can be crying in sports as evidenced by Bubba Watson’s outpouring when…
Posted On Tuesday, 05 April 2022 00:00 Written by
We are all aware that a person’s credit score impacts their ability to obtain a mortgage; it dictates the cost of that loan if they qualify. However, very few people focus on all the factors involved in a credit score. Further, while many people think that they are “good” if their score is over 620; most people are unaware that according to Experian®, the average credit score in the United States as of 2/22/2022 was a record high of 714! Why is this important? Because anything below 714 is BELOW AVERAGE! So, if you put it into perspective, that client with that 620 score, is 93 points BELOW AVERAGE!  The reason this is important is that the borrower’s credit score impacts not only the interest rate on the loan, but it also can impact: Loan program LTV Ability and cost of PMI Ability and cost of homeowner’s insurance   The…
Posted On Tuesday, 05 April 2022 00:00 Written by
We are coming up on the month of April and Tax Day, perhaps the most heart palpitating, stress inducing, cry-yourself-to-sleep time of the year. No matter how bad things may look for you this year we can always bask in the joy of the misery of celebrity.
Take for instance Steve Harvey, with his latest tax woes, wherein he recently proclaimed he had to pay $650,000 per month in taxes for 7 years just to catch back up!  If that doesn’t make you feel grateful to pay your comparatively little tax bill for the year, I don’t know what will…I mean, until you actually have to write the check, of course. The Promise of Steve Harvey to make things right has just come to light in articles worldwide, as he is literally the busiest man in showbiz….and now we know why: TAXES! Steve Harvey is one of the greatest entertainers…
Posted On Wednesday, 30 March 2022 00:00 Written by
Whether it is thanks to the coronavirus pandemic or accelerated exponential change that has been taking place for decades prior, digital disruptions are not slowing down anytime soon. And while the wave of change is bringing new opportunities all the time, it is bound to create discomfort for those who believe they are immune to change.
I coin this mentality the “wait-and-see mindset”: when a business or organization decides to wait out a massive digital disruption that is either heading its way or is already shaking up the products or services it offers. Realistically, we all wait and see in some ways — it is certainly easier to let someone take the leap and, theoretically, get banged up on the way down, showing you what not to do. However, seldom does that turn out the way a business leader, entrepreneur, or employee was hoping, largely because that same leap will…
Posted On Tuesday, 29 March 2022 00:00 Written by
So much information about how bad the market is or how interest rates are going higher and that is going to kill the market. Well, those are EXCUSES made by the many who refuse to do what is needed to WIN! And believe me, people out there are WINNING every single day! Higher home prices are not stopping buyers from buying. Higher interest rates are not stopping people from buying. Inventory, or the supposed lack of inventory, is not stopping people from buying houses. Those that are winning are working, while those that aren’t are whining! You can make excuses, but they won’t help you win. We have talked to this point over and over, and yet it seems some have missed it. You must find what is winning in your market and share the strategy so they can win, and YOU can win! Every day there is incredible opportunity…
Posted On Monday, 28 March 2022 00:00 Written by
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