Some Data In, More to Come!

Written by Posted On Tuesday, 02 August 2022 00:00

The FED raised short term rates by 75bps as expected and the mortgage bond market approved of the measure by closing up by 47bps today. This move was “leaked” last week and was just a formality of hearing the official word today. In Jerome Powell’s remarks he signaled there would be a “slower pace” of further increases, likely meaning he thinks dropping down to 50bps at the next meeting and seeing what things look like moving forward.

This is only half the story. Unemployment data and the first look at GDP numbers for the second quarter are this morning. Despite Janet Yellen’s repeated attempts to avoid the “R” word, it is likely we will have a negative growth number for the second quarter and that signals recession. Now, it’s only the Atlanta Fed forecasting a negative growth number and the official number will be only a first look this morning, but the fact remains, if we aren’t officially in a recession, you would have to admit the economy is in trouble! 

To make matters worse, it has been reported that Senator Joe Manchin has reached an agreement with Chuck Schumer to pass a bill that will raise taxes and increase spending by hundreds of BILLIONS of dollars on climate change solutions and other items. Which is exactly what you need to do during record inflation and an approaching recession is raise taxes and spend more money the government has to go out and borrow, NOT!

So, let's see where the numbers come in this morning and how the markets react to the data and the news of higher taxes and increases spending of borrowed money!

You just can’t make this stuff up!

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.

 

By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle. 

 

https://www.imtcoaching.com/

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