It’s June and the summer season is here and it’s going to be a wild one! Rate volatility last week, steadily lower, has given way to some price improvement. Not enough to make up for recent losses, but the unemployment numbers today and the jobs report on Friday will contribute to either further improvement or a reversal if the numbers are significantly stronger than expectations. We also do not yet have a signed bill increasing the debt limit yet, but there is hope that something will pass and be signed soon.
Despite lower numbers from the MBA, my clients are seeing pretty solid activity with inventory being a factor at some price points. Obviously, each market is different, but I have a solid cross-section of markets covered and there is no slowing down the number of preapprovals being requested, and offers being made.
Referrals from small banks and credit unions continue to rise and with the end of the school year, the rush of people who will list and then buy before the new school year is already in progress. Be sure you are helping promote the timeline to go from preapproval to closing in your market specific terms, so people know how much time they have to make it all happen. Believe me, this year will see plenty of activity IF you provide people with the information to make informed choices!
Last but not least, you need to be very clear on what YOUR vacation plans are or the time you are planning to take off this summer! Do NOT wait until the last minute, time is not your friend when it comes to summer activity planning! So, get it scheduled now!
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