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Yesterday was a bad day for bonds. A poor 7yr note auction pushed the UMBS 30 2.5% coupon down 36bps to a floor of support at 101.80, while the 10yr T rose 8bps to 1.55, which is just 5 bps below the current ceiling of resistance of 1.60. I always get nervous when the markets move sharply right before a holiday weekend, and with this weekend bringing in the New Year, it bears watching closely. As I have maintained for a while now, if you like it, LOCK IT! I am interested to see activity in the housing markets this weekend. With buyers still hungry for homes and the excuse of waiting to after the holidays are over now past, it will be very interesting to see the first few weeks of January go, especially if we see mortgage rates ticking up as well. So be aware of the markets…
The FED had it’s meeting this week and made some observations and projections that they supported with their “FACTS”. While Jerome Powell has tried to bury his whole “tapering” comments with a simple shrug of the shoulders and the comment that we won’t use the word transitory any longer, it doesn’t absolve the facts that keep getting shared are just as big a fantasy going forward. So how about we just get real here for the next few minutes. With all the data the FED looks at, it’s hard not to see they almost always ignore reality. CPI & PPI are significantly flawed measurements because one doesn’t take a real measure of costs, especially food, energy, and housing. When they do look at those numbers, the measurements they use so far behind the reality, it almost makes it a moot point. The other makes assumptions as to how much of…
The last few days of 2021 are upon us and now we begin the final countdown to 2022. A simple checklist of tasks and items will help create a smooth transition form year to year and allow you to enjoy as much time as possible enjoying family and friends. 1. Get very clear as to your calendar. What loans are left to close, is everything complete on those files, are they scheduled to be completed, and is everyone on the same schedule? 2. When are people open and when are they closed? Never assume everyone is working the same schedule as you are, even in your own company! 3. What are your targets for events and time off? Don’t play the holidays by ear! Be aware of what you want and need to do! 4. Personally contact everyone of your unclosed pre-approvals from 2021 and find out status, update as…
“The Only Bad Time to Buy Property is LATER” simplimihomes.com You have searched for several weeks, looking for the right house to make your new home. You finally walk through the door of the perfect house, but other people are making competitive offers to buy this same house. How much do you offer to pay without paying too much?
Here are five points to consider: 1. Set up your budget and stick to it. Review your bank statements and credit card statements. How much is your income? What expenditures can you eliminate or replace with something less expensive? What debts can you restructure to help your cash flow? After considering all of this, determine the maximum house payment you can comfortably afford. How much can you comfortably pay down at closing without disturbing your emergency fund? Make allowances in your budget for repairs and unexpected events. …
“Believe you can, and you are halfway there.” Anonymous The top three hurdles mortgage customers must conquer are fixing credit issues, finding enough qualified income, and fast-tracking the funds needed to close the real estate transaction. Time is a great healer when it comes to older derogatory credit accounts. An experienced mortgage loan officer can help find qualified income for a borrower, sometimes in the back pages of the tax return. A borrower who does not have enough funds to close the loan can get help from agencies and gifts from other people.
Overcoming Credit Issues Benton and Baily were disappointed that their payment would be slightly higher since the mortgage rates had gone up before they got their offer accepted on buying a home. So the answer for Benton and Bailey was to improve their credit scores. By paying down their credit cards to show they were…
Last April, the Federal Reserve addressed inflation fears with the word “transitory”. The conversation was directed to the markets to believe that current inflation pressures were not severe, and in fact, would dissipate as people went back to work and the supply chain corrected itself. Many in the markets weren’t so sure that this explanation was valid, but the more the markets pushed back, the more the message persisted that inflation fears were a moot point, as they were just “transitory” and would self-correct. The more that position was shared, the harder the markets pushed back. I have been writing in this post that inflation was real, it was going to get worse, and sooner or later, the FED would have to acknowledge that the inflation pressure was in fact real, and that it wasn’t not only not going away, but was going to be a significant issue going into…
Cleve Gaddis is a Master Coach, speaker, and trainer with Workman Success Systems who works with some of America's most-profitable teams. He specializes in helping family-owned brokerages and teams navigate the challenges unique to family businesses. Cleve hosts "Your Move Atlanta," a weekly radio show on 640 AM, a Fox News station on iHeartRadio. He learned to sales the hard way, by selling vacuum cleaners door to door. To have Cleve speak live to your company, team, or group, connect with him at This email address is being protected from spambots. You need JavaScript enabled to view it..
Thanksgiving is the time of year to reflect and be grateful for all that we have. I want to wish all of you a very happy and healthy Thanksgiving and the enjoyment with family and friends. I am always reminded that regardless of your situation, there is always something to be thankful for and acknowledging those things can bring great rewards. As always with holidays I remind you of my philosophy: “If you are going to work, then WORK! If you are taking time off, then DISCONNECT! There is no right or wrong, there just is either or! For those of you who are working, just be sure you connect personally. Black Friday is a great opportunity to share value with your clients and referral partners. Remind them of your ability to put deals together and get them done before the end of the year. Most of your competition is…
The MBA has estimated that mortgage purchase volume will grow by about 9%, to $1.73T. That is $1,730,000,000,000! While that is certainly a positive piece of information, it follows up with the statement that total business volume will fall significantly due to a more than 60% drop in refinance business, from 2.26 trillion dollars to just around $860B. While $860 billion is still a lot of refinances, it will leave a big void in total volume. I’m never one to say that the MBA is always correct in its projections, but obviously higher interest rates and the sheer number of people that have already refinanced down into the 2% range will reduce volume. So, what if the MBA is correct and we see a nice increase in purchase business in 2022, but lose more than 60% of the refinances? My guess is, that it all depends on what your business…
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![Sue Yannaccone Discusses Challenges For Women In The C Suite, Leadership Strategies, And Setting Boundaries While Maintaining Work/Life Balance As A Leading Woman In Real Estate [VIDEO]](/media/k2/items/cache/d84ec9655b4a1c9675bae9a0c13aa270_S.jpg)
Editor's Note from Terri Murphy: Could not be happier to learn the news that Susan Yannaccone has been named CEO and President of the Realogy Franchise Group and the first female in that position! Congratulations from all of us from your friends at the Women’s Wisdom Network, RealtyTimes and Women in Real Estate! Read more about her announcement here. With nearly two decades of leadership experience in franchise management and real estate brokerage operations, Sue Yannaccone assumed the role of Regional Executive Vice President of the Eastern Seaboard and Midwest regions of Realogy’s Coldwell Banker company-owned offices in March 2018. Yannaccone oversees the sales operations of 239 Coldwell Banker offices in New Jersey, Long Island, Baltimore, Washington, D.C., Central Pennsylvania, Philadelphia, Ohio, Chicago, St. Louis and Minnesota. In addition to being a mentor and advocate for women in the real estate industry, Yannaccone has been a key driver in…
It should happen everyday that we thank a veteran for their service and acknowledge if not for those sacrifices, we wouldn’t have the liberty and freedom we enjoy without paying much attention to it. To all the veterans, and their families that support them; THANK YOU! In other news, inflation data has really exceeded most estimates and came in at a HOT 6.2%! The FED can say what they want, but prices don’t lie! Since inflation is the arch enemy of interest rates, pay close attention to the bond market please be sure not to let your rate locks expire; it may be very expensive to extend those locks, if possible, at all. Thirty days or so left to get your deals in so they can close by the end of the year, although some may have even smaller windows than that. Please be sure you know where your cutoff…
It’s the first week of November and we are in the final days of 2021. There are a few things that we must get taken care of before we lose the ability to control these final days. It’s a simple check list, but important none the less. 1. Complete your business plan for 2022! If you don’t have this done and begin working your new schedule and processes, you won’t be able to hit the ground running on January 3rd! You can’t afford to give up such a competitive advantage. 2. Finish all required continuing education classes. While I always suggest this is done in February, some push it off. You can’t be without your license! Get it done! 3. Check the calendar. How many days left for you to take in a loan and close it for 2021? Remember to allow for your personal time off, vacations, or possible…
![Do You Start Your Day With A List? Tami Bonnell, CEO Of Exit Realty, Shares How You Get What You Expect And How To Reframe Your Thinking To Create Your Day By Design, And Not By Default, With Her Full Circle Action Plan For Permanent Impact [VIDEO]](/media/k2/items/cache/326c04bbb1b4e95305c8448ae24dd81d_S.jpg)
EXIT Realty Corp International’s CEO TAMI BONNELL is an internationally renowned leader in the real estate industry and was instrumental in building three major brands. Among her many achievements, she was recognized by Real Estate trend watcher, Stephan Swanepoel, three years consecutively as one of the 200 most Powerful and influential people in residential real estate, among the top 20 corporate executives and among the top 10 women leaders. Ms. Bonnell has been a featured speaker at the NATIONAL ASSOCIATION OF REALTOR’S® convention to the Top 500 power brokers, The National Women’s Council REALTORS®, Inman News Connect Conference and the RIS Media’s Leadership Conference. She was named to the National Association of Women in Housing & Real Estate Ecosystem ( NAWRB) Diversity & Inclusion Leadership Council (NDLIC). Ms. Bonnell was honored by STEM connector as one of it’s 100 Corporate Women Leaders in STEM (science, technology, engineering and math).…
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