Byron Lazine, Tom Toole, and Lisa Chinatti discuss the latest CPI report and what it means for mortgage rates, close to peak rent inflation, Lawrence Yun calling out the Fed, and another drop in inventory.

With Byron Lazine away at the Marketing Mastermind, Tom Toole and Lisa Chinatti discuss the drop in mortgage rates after the Fed’s latest rate hike, whether Powell’s speech was actually positive, Housing Market Tracker, and April monthly housing report trends.

Byron Lazine, Tom Toole, and Lisa Chinatti discuss rising inventory, confusing pricing headlines, home price increase reported by Case-Shiller, an increase in mortgage applications, and a decrease in the mortgage delinquency rate.

Byron Lazine, Tom Toole, and Lisa Chinatti discuss housing inventory still near record lows, things getting weird in the housing market, the lock in effect, confusing headlines, and best source of accurate information on the fee for borrowers with higher credit scores.

Byron Lazine and Tom Toole discuss falling mortgage rates falling after inflation and job growth reports, predictions on what the Fed will do next, a slight uptick in inventory, home prices bottoming out, and how to win the second quarter in real estate.

https://fortune.com/2023/04/11/housing-market-national-home-prices-just-bottomed-says-corelogic/

Connect with Byron Lazine: https://www.instagram.com/byronlazine

Byron Lazine, Tom Toole, and Lisa Chinatti discuss mortgage rates, the jobs report, the inventory bottom, home prices on the rise, and an Inman writer’s response to Byron’s and Lisa’s comments on her article, “I’m a real estate agent. You can’t tell me what to wear on the job.”

cx_testId=6&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXAPB9I50LOS#cxrecs_shttps://nowbam.com/home-prices-rise-for-the-first-time-in-8-months/

https://www.inman.com/2023/04/06/you-cant-tell-an-agent-what-to-wear-i-said-then-you-responded/

Byron Lazine, Tom Toole, and Lisa Chinatti discuss spring home shopping seasons past and present, the increase in pending home sales, Boomers vs Millennials, a tale of two housing markets, the best advice for agents in Q2, and the class action commissions lawsuit.

Byron Lazine, Lisa Chinatti, and Tom Toole discuss comments on the economy, housing, and the job market from Jerome Powell, the impact of the Fed rate hike, new construction, lead generation, and the year-over-year increase in existing home sales.

https://www.cnbc.com/2023/03/23/the-inflation-force-that-has-fed-risking-rate-hikes-with-banks-on-edge.html

Byron Lazine and Tom Toole discuss declining mortgage rates after the SVB collapse, the increase in housing starts, the best way to fight inflation, and accidental landlords.

Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM

Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1

Join the 5AM Call: https://5amcall.com/

Timestamps:

00:00–01:30 Intro

01:30 Falling mortgage rates amid banking turmoil

04:57 Who’s to blame?

08:46 How the housing market reacted

10:08 Why the Fed should leave the interest rate as it is (no hikes or cuts)

12:40 Smart investments for 2023

13:41 Accidental landlords (Fortune article)

16:51 “When you hit 6.5%, the demand picks up.” (KCM chart)

18:45 Data vs drama: What top agents do when the going gets tough

24:34 “At 5%, we’d free up inventory, which is what we need…”

26:27 Some basic skills on how to work with investors.

30:26 Use spreadsheets to calculate investments (ROI for multiple scenarios)

35:20 The biggest opportunity for agents to work with investors

36:51 Housing starts are up

Show Resources:

https://www.housingwire.com/articles/mortgage-rates-declined-amid-banks-failures-whats-next/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=2&cx_experienceId=EXZNOASUT0V6#cxrecs_s

https://www.housingwire.com/articles/housing-starts-rise-as-buyer-demand-rises/?cx_testId=19&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXQEK4SQSVBN#cxrecs_s

https://www.housingwire.com/articles/latest-housing-starts-data-is-good-for-mortgage-rates/

https://fortune.com/2023/03/13/housing-market-homeowners-who-held-onto-low-mortgage-rates-are-becoming-accidental-landlords-renters-real-estate/

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BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers.

Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka.

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Connect with Byron Lazine: https://www.instagram.com/byronlazine

Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/

Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/

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Lisa Chinatti and Tom Toole discuss Fed Chairman Powell’s remarks at the Senate hearing, climbing mortgage rates, the 6.5 million housing unit shortage, predictions for the March FOMC meeting, conflicting data for unemployment, and how to articulate the challenges buyers and sellers are facing in the current market.

Use the discount code BAM23 for Virtudesk to hire your first virtual assistant today and save $250 on the start-up fee: https://bit.ly/Virtudesk-BAM

Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1

Join the 5AM Call: https://5amcall.com/

Timestamps:

00:00–00:41 Intro

00:41 Fed Chairman Jerome Powell, Senate Q&A, and Wall Street sentiments

05:29 Low inventory—on top of high mortgage rates, inflation, and pent-up demand

07:12 Housing shortage of 6.5 million units

08:50 How do agents articulate the challenges buyers face in today’s market?

10:28 Affordability will remain an issue—especially at median price points

13:58 The rate of housing starts would need to triple to keep up with demand.

17:03 The impact of the decline in builder confidence in Q4 2022

17:24 Gently used homes vs new construction

20:03 Here’s how volatile the market is

21:51 Lisa’s and Tom’s predictions for the March FOMC meeting

24:09 Conflicting data with the jobs report, unemployment, and wage growth

33:18 What are you coaching your team on right now—starting with the seller side?

38:58 What about the buyer side?

42:03 The innovation that matters most—and what advanced agents are doing

Show Resources:

https://www.npr.org/2023/03/07/1161623217/federal-reserve-jerome-powell-senate-inflation-interest-rates-economy-recession

https://apnews.com/article/inflation-federal-reserve-interest-rates-powell-unemployment-79b7ead4530ab381a17638a6c9df2d90

https://www.housingwire.com/articles/mortgage-rates-climb-as-fed-signals-more-aggressive-rate-hikes/

https://www.cnbc.com/2023/03/09/february-is-expected-to-have-been-a-strong-month-for-hiring-and-wages.html

https://www.housingwire.com/articles/the-housing-market-is-6-5-million-units-short-realtor-com/?cx_testId=6&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXAPB9I50LOS#cxrecs_s

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BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers.

Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka.

Subscribe to BAM Newsletter: http://eepurl.com/hZU-Vn

Check out BAM: https://nowbam.com/

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Connect with Byron Lazine: https://www.instagram.com/byronlazine