Today in Mortgages

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about why builders are weary despite homes sales rebounding according to today's article from Zillow "New home sales rebounded more than expected in July." Builders have been aggressive trying to get rid of inventory with incentives so we aren't surprised people are buying new builds. New home-build sales were up 10% in July, but we have a contrasting article from Market Watch "New-home construction plunges to lowest level since May 2020." New home builds are down, but this is typical seasonal stuff. Homes being built now will be ready in the winter which is a slower time to move houses and it's very expensive to build homes right now. But with rates trending downward, the market outlook is looking great for the foreseeable future.  

Listen in to learn about this and more!

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we discuss starter homes and why they are a bight spot in this economy according to today's article from Redfin: "Starter homes emerge as bright spot as mortgage rates settle near 15-month low." Interest rates are down which is giving buyers a little buying power... which is especially good news for first-time home buyers. Starter homes begin at $250,000, but these homes are harder to find, considering that the medium home sale price is $518,000... double! 

Listen in to learn about this and more!

________ 

Stay tuned for our next episode, where we'll continue to keep you informed on the latest in mortgage and real estate news. If you enjoyed this episode, please leave us a review and share it with your friends and colleagues.

______ 

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site.

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we break down the recent job report revision; there's a lot less jobs than initially reported. It is normal for the BLS report to have small revisions after the fact but this particular adjustment is more significant. The fed uses these reports to guide their decisions on when to cut rates. Employment has been everything when making these decisions. The combination of inflation coming down and job reduction are more signs leading to rate reductions. Now that we are enlightened on how the Fed makes their decisions, we have one more tool when talking to our borrowers.

Listen in to learn about this and more!

________ 

Stay tuned for our next episode, where we'll continue to keep you informed on the latest in mortgage and real estate news. If you enjoyed this episode, please leave us a review and share it with your friends and colleagues.

______ 

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we talk about $25,000 tax credits proposed by the Harris campaign and whether we think they will help or hurt. We discuss this and Fox's article "Waiting for mortgage rates to fall? Why Experts say it won't make a difference". The article believes that lowering rates will make buying more affordable for only a few months; prices will climb because of demand. 

The other point we wanted to discuss comes from a second article in MPA Mag Today "Harris proposed $25,000 tax credit to address rising housing cost". This is just a proposal at the moment, and we've seen other president's offer tax credits, but buyers really need help with down payment and closing costs, not so much tax credits. Some criticism says that the credits could drive up prices even more with this increased buying power but we would encourage buyers not to wait around for a proposed tax credit. Get after it while rates are coming down, but prices haven't risen. This is how we should be communicating to our borrowers! TODAY!

Listen in to learn about this and more!

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we discuss PPI, refinances and rate cuts! Great news, the increase we saw for inflation was tied to PPI which is good for the housing marketing (Fed will look at these numbers in their next meeting). Shelter inflation accounts for 90% of price increases, and now that we are below the 3% inflation mark for the first time since 2020, we are hoping the Fed will see this and make more aggressive rate cuts. Our prediction is 25 basis point cut!  

We also discuss the surge we are seeing in refinances. But, this is mainly due to debt consolidation, and not borrowers refinancing to reduce rates. We need to keep communicating with our borrowers and let them know where things are headed in the market so we can coach them through the rest of the year. 

Listen in to learn about this and more!

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we discuss if we are finally getting a relief in interest rates. This week has had a lot of volatility in the marketplace, and people are asking why? To help explain, Rich teaches on the relationship between the 10 year treasury and interest rates, and why when rates drops, the treasury starts to fall as well. Ultimately, there is a lot we don't know, but what we do know is that rates HAVE ALREADY stated coming down, which opens opportunities such as increased buying power, and refinances. Listen in to learn more about this and more!

________ 

Stay tuned for our next episode, where we'll continue to keep you informed on the latest in mortgage and real estate news. If you enjoyed this episode, please leave us a review and share it with your friends and colleagues.

______ 

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site.

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," we take you behind the scenes of Network Funding to see how we coach up our people. We are taking a look at Rich's latest video to the company about market volatility over the last week, and how we should respond as Loan Officers. His key takeaway is to make sure we are quoting accurate rates to protect our borrowers and NFLP against this volatile market. 


________ 

Stay tuned for our next episode, where we'll continue to keep you informed on the latest in mortgage and real estate news. If you enjoyed this episode, please leave us a review and share it with your friends and colleagues.

______ 

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site.

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

In this episode of "Today in Mortgages," Michael and Richard dive into the recent Federal Reserve meeting and the surprising number of real estate deals that fell apart in June. They discuss key takeaways from Jerome Powell's speech and analyze the implications for the mortgage and real estate markets.

Key Topics:

1. Federal Reserve Meeting Insights:

– Jerome Powell's optimistic outlook on inflation control.
– Anticipation of potential rate cuts in September.
– The Fed's focus on economic stability and employment.

2. June's Real Estate Market Trends:

– Record-high home prices and a significant number of deal cancellations.
– Analysis of why 15% of homes under contract were canceled in June.
– The impact of high real estate taxes and homeowners' insurance on affordability.

3. Market Predictions and Advice:

– Discussion on the high competition in the real estate market.
– The importance of acting now despite high home prices.
– Prospects of refinancing as interest rates potentially decrease.

Additional Resources:

Redfin Article: https://www.redfin.com/news/home-purc...
G

________

Stay tuned for our next episode, where we'll continue to keep you informed on the latest in mortgage and real estate news. If you enjoyed this episode, please leave us a review and share it with your friends and colleagues.

______

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. 

Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site.

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042.

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Welcome back dream makers, today we are discussing what the fed will come up with in their meeting today. We hope they are discussing a rate cut and if so, it likely won't be before September. CNBC's article "The first Fed interest rate cut is on the horizon. Here's what homeowners, buyers need to know." The crux of this article says that some of these rate cuts we are anticipating are baked into the market value. We are down a full percentage rate since October 2023 (the high point), and a lot of buyers from that high point are already asking about when they should refinance. Even if the fed is not actively changing their rate, there is a lot of variance in the street rate. We all look forward to hearing from the fed after today's meeting! As mortgage professionals we need to be prepared to help our buyers looking to refinance this fall. Listen in as we discuss this and more!
______

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.

Welcome back dream makers, today we are discussing what's a lame duck housing market. CNBC's article "Mortgage demand drops, as homebuyers wait for lower rates" hints that consumers don't want to accept these high rates. Incoming data shows inflation rates have come down significantly, as we all anticipate rate cuts coming soon. We've personally seen demand dropping in applications this week as consumers hit pause until rates come down. We discuss the risk to buyers waiting: competition and home prices rising.

Tune in to this episode to gain a deeper understanding of the current market dynamics and discover how you can better support your clients in achieving their homeownership dreams. Whether you're a seasoned professional or new to the industry, this discussion offers valuable insights to help you navigate today's real estate landscape.
______

Grow Your Business: https://join.nflp.com/
______

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297.

See more at TodayInMortgages.com

Want to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here.

Learn more about Network Funding on our parent site. 

Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. 

The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.