The Monday Show

SUMMARY: Existing-home sales in September fell but also fell less than expected with the South (of course) dominating all other regions, mortgage rates were up but not as much as expected, and initial jobless claims fell unexpectedly...

Sources

•  Existing-Home Sales Fall Less Than Expected
• Mortgage Rates Stay Under 7.0%
• Jobless Claims Fall to 214k

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

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

SUMMARY: The Census Bureau's September construction was better than expected and the South (of course) continues to dominate, mortgage demand falls to a 25-year low, and the Fed's beige book tells us what we already know about the housing market...

Sources:

• Housing Starts Are Down but Permits & Completions Are Up
• Mortgage Demand Falls to 25-Year Low
• Fed's October Beige Book: Housing is Cooling

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

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

SUMMARY: Homebuilder confidence fell more than expected and not even the South could save this October report, rent growth slows for the fourth month, and the suburbs are now more valuable than the cities...

Sources:

• Home Builder Confidence Falls for 10th Straight Month
• Rent Growth Slows for a Fourth Consecutive Month
• Suburban Space Now More Valuable Than Cities

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

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

SUMMARY: Retail sales were flat in September according to the mixed report from the Census Bureau however when adjusted for inflation sales were actually down 0.4% for the month, New York may finally be breaking free from the NIMBYs, and we got reports on homebuilder confidence, housing starts, and existing-home sales later this week...

Sources:

• Retail Sales Were Flat in September
• Happening This Week
• Is New York Ditching NIMBYism?

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

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

SUMMARY: No spinning September's CPI report was bad across the board from food to energy to shelter costs it was just bad, mortgage rates hit a 22-year high after another quarter point jump, and social security recipients get an 8.7% COLA increase that is likely to hasten the demise of the entitlement program...

Sources:

• Inflation Hotter Than Expected in September
• Mortgage Rates Hit 20-Year High
• Social Security Recipients To Recieve An 8.7% Increase

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

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

SUMMARY: Mortgage standards tighten to a level not seen since 2013, rising rates are burning home flippers, and consumer expectations about inflation fall to a low not seen since September 2021...

Sources:

• Mortgage Availability Decreases in September
• Home Flippers Getting Burned By Housing Slowdown

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

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

SUMMARY: Rate locks fall double digits in September thanks to mortgage rates skyrocketing, inventory leveled off after three weeks of gains, and another great piece from the New York Times on the death of the starter home...

Sources:

• Rate Locks Fall 10% in September
• Inventory Levels Off for the Week
• If America Needs Starter Homes, Why Are Perfectly Good Ones Being Torn Down?

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

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

SUMMARY: The second report in as many days finds that home prices fell for two months in a row at the end of the summer and the latest JOLTS report brings hope to those looking for relief from inflation but the data is incomplete...

Sources:

• Home Prices Fall for the Second Month
• Job Openings Plummet in August

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

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

SUMMARY:  Home prices fall for the second month and the two-month slide is now the biggest since January 2009, rising rates are pushing buyers off the table which means slightly higher inventory levels, and Axios writes about the golden handcuffs keeping the housing market stuck...

Sources:

• Two-month Home Price Slide Biggest Since '09
• Rising Rates Pushes Inventory Levels Up
• The Housing Market Is Stuck

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

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

SUMMARY: August was a great month for new home sales but pending home sales fell 2.0%, mortgage demand returned to its downward trend, and waiting to buy could have cost some homeowners $120k...

Sources:

• Pending Home Sales Fall 2.0% in August
• Mortgage Demand Returns to Downard Trend
• An Almost $120,000 Swing

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

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