The Monday Show

SUMMARY: Building permits were down big, housing starts were better than expected, and housing completions saw double-digit growth in November.  Single-family rent growth falls into single digits for the first time in 14 months and Bloomberg editors call out NIMBYs...


Sources:

• Residential Construction Mixed in November
• Single-Family Rent Growth Falls Into Single-Digits For The First Time In 14 Months
• BLOOMBERG EDITORS: When Housing Is For Locals Only, The Whole Country Suffers

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Despite projections that we could see a positive move in December homebuilder confidence fell every single month in 2022 but the good news is we might be near the bottom and housing inventory fell for the seventh straight week and prices also continued to fall...

Sources: 

• Homebuilder Confidence Falls Every Month This Year
• Housing Inventory Down Seven Weeks & Counting

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Fed announces a 50 basis point hike to end the year but their projections for the future and the press release give off a hawkish tone and mortgage demand increases for only the second time in the last three months...

Sources:

• After Four 75 Basis Point Hikes The FOMC Ends The Year With a 50 Bip Hike
• Mortgage Demand Rises For The Second Time In The Last Three Months

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Inflation falls more than expected for the second month in a row, asking rents post the smallest increase in 15 months, and Alexis Leondis writes in Bloomberg that waiting for home prices to drop is a bad strategy...


Sources:

• Inflation Falls More Than Expected in November
• Asking Rents Post Smallest Increase in 15 Months
• Waiting For Home Prices To Drop?  Bad Strategy

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Rate lock volume falls for the 8th straight month, inventory falls for the 6th straight week, and we talk plans for 2023 with the podcast...

Sources:

• Rate Lock Volume Falls Over 21% in November
• Housing Inventory Falls For The 6th Straight Week 

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Continuing claims jump to the highest level since February, mortgage rates see the biggest drop since 2008, and cracks in the short-term rental goldmine begin to show...

Sources:

• Continuing Claims Reach Highest Level Since February
• Mortgage Rates See Biggest Decline Since 2008
• The Housing Slowdown Is Wreaking Havoc on the Short-Term Rental Market
• Americans Are Building Vacation-Home Empires With Easy-Money Loans

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Home price growth slows to 10.1% in October and 2023 will see positive home price growth according to CoreLogic, Redfin makes its projections for 2023, and housing could now help slow inflation...

Sources:

• Home Price Growth Slows to 10.1% in October
• Redfin's Predictions for 2023
• Could Housing Help Lower Inflation?

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: Home price appreciation slows to single digits for the first time in two years, inventory levels continue to fall, and its kind of a boring week for economic data...

Sources:

•  Home Price Appreciation Slows To Single digits in October
• Housing Inventory Falls 2.5% to Start December
• Happening This Week

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The Latest PCE index shows inflation falling to the lowest level since January, personal spending and income both up in October, Jobless claims fell more than expected, and mortgage rates fell for the third straight week...

Sources:

• Inflation Falls to Lowel Level Since January
• Mortgage Rates Fall for the 3rd Week
• U.S. Jobless Claims Fell Last Week, Showing Solid Labor Market

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201

SUMMARY: The ADP report came in smaller than expected and job openings fell as expected AND Chairman Jerome Powell also telegraphed a smaller rate hike in December giving hope to some that the labor market might officially be cooling.  In other news, pending home sales fell less than expected and mortgage demand fell despite mortgage rates also falling last week...

Sources:

• Job Openings Fall As Expected to 10.3M in October
• Pending Home Sales Fall Less Than Expected in October
• Mortgage Demand Falls Along With Rates

DISCLAIMER: TowneBank Mortgage, NMLS #512138, is an equal housing lender. This podcast is for informational purposes only. Hosted by Tyler Cralle #2028201