Will that impact real estate showings? I know Zach wouldn’t venture from his climate controlled environment, but what about the average homebuyer? At least you can make sure the property you want to buy has working A/C!

Do you carry a balance on your credit card? Well, credit card delinquencies continue to rise according to the Federal Reserve Bank of New York. A year ago, just 8.2% of credit card debt was severely delinquent (90+ days overdue), but that figure is now 10.7%.

Please help us stop this trend and contact us about a possible home equity loan or line of credit. Lower your monthly payments AND interest rate! Get out from under the boot of those trying to trap you in the vicious debt cycle.

Looking at the larger picture: After a brief scare in April and late May, the 10 Year Treasury seems to be comfortably below the 4.5% yield threshold which is good news for future homebuyers and home sellers alike! Supply and Demand, yadda, yadda, yadaa….

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Like Garfield, Zach loves lasagna and hates Mondays.

Burying the lead: Mortgage rates start the week lower! Investors are digesting the latest manufacturing data, pushing the 10-Year Treasury Yield down to almost 4.4%

Computex, a computer expo held annually in Taipei, Taiwan is nearly upon us! But that hasn’t stopped companies like Nvidia, AMD, Intel, Microsoft, etc… from making some “pre” announcements. Looks like they are all doubling-down on AI; integrating it into their upcoming chips and software. Lots of talk about how AI will be taking people’s jobs, but why stop there? Pretty soon you won’t need to talk to friends, watch movies, or listen to music because the AI will handle all of that for you!

We’re still seeing lots of purchase activity as our prequalified buyers find properties they want to buy, some within days, others after years of searching. Credit card debt remains at all-time highs, so it might be time to take a look at one of Townstone’s Home Equity products to let you consolidate your debt and save money on interest and monthly payments.

Zach has jury duty next week and he’s already nervous that he won’t reach the right verdict.

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And as always: FREE mortgage consultations are available at https://townstone.com/consultation-request/

Barry vs. Zach: the Pay-Per-View you can watch for FREE!

The 10-year Treasury seems befuddled: closing under 4.5% last week, spiking above 4.7% to start this week, and now trending back down to 4.5%.

Pending home sales in April are down 7.4% compared to last year, but the share of sellers cutting prices this month in May has hit 6.4%. Supply and Demand at work!

Zach describes his car dealership/servicing nightmare, unbelievable right?

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Barry and Zach have a beautiful feelin’!

Everything’s goin’ their way!

Memorial Day is right around the corner! Intended to be a day of honoring and mourning U.S. military personnel who died while serving, most Americans use it as a day to eat too many hotdogs and drink too many beers! And isn’t that truly what America is about?

While we may be stuffing our faces Monday, we truly thank the vets for their service. Townstone has been taking care of veterans with the lowest rates and costs on VA loans since 2002! Just imagine the alternate history without the brave service from these men and women; we might’ve been eating bratwurst and schnitzel.

Barry’s favorite stock Nvidia (NVDA) hits a new all-time high. The rest of the market seems pretty tame by comparison, while the yield of the US 10-YR Treasury flirts with 4.5%. Gold and Silver are down a bit for the day, but still near all-time highs as well.

Conspiracy Alert: cicadas are supposedly out in the trillions, but have you seen any yet? Barry and Zach give their top tips for avoiding becoming a victim of the cicada brood!

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Fannie Mae’s Economic and Strategic Research group now expects the 30-year fixed rate to close 2024 at 6.4%. This is an upward adjustment from the group’s previous 6% forecast, but is still predicting lower rates by the end of the year.

But here on the ground, the fluctuations in rates are not deterring potential buyers. We’re still seeing tons of potential buyers getting prequalified with many of those prequalified buyers getting a property under contract to buy within days or weeks.

First with Kobe Bryant and now the President of Iran, Zach vows to never step foot in a helicopter.

Homeowner’s insurance has often been of little concern for buyers and owners not in coastal states vulnerable to catastrophic hurricanes. But losses for homeowner’s insurance companies are starting to mount in the traditionally “safer” states like Illinois, Indiana, and Wisconsin (just to name a few). But as insurers around the US bleed cash, homeowners lose. How’s your premium looking today vs. just a couple of years ago?

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Barry and Zach have a candid session covering a variety of topics starting with Barry’s gripes about bureaucracy and red tape. He sheds light on the often complex and frustrating processes that is especially burdensome for individuals and small business.

With a couple of personal victories under his belt this week, Zach shares his recent experience with DIY car and HVAC repairs, offering insights into the challenges and rewards of tackling such tasks without professional help. Who doesn’t love a good fixer-upper story?

But mortgages and real estate remain the heart of the show, as Barry and Zach discuss the latest developments in mortgages and the real estate market. Whether you’re a first-time homebuyer, a seasoned investor, or simply keeping an eye on market trends, we hope to provide valuable perspective on the current state of real estate and what it means for your wallet.

Tune in for an episode that’s hopefully as educational as it is entertaining. We promise to leave you happier and better informed to navigate the complexities of modern finance and homeownership. 🏡💼

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

After sharp increases in mortgage rates last week, we’re starting the week with some much-appreciated relief from the market.

But what’s good for mortgage rates may not be good for the overall economy. “Stagflation” is quickly becoming the new economic buzzword, meaning an economy plagued by a combination of inflation AND slower growth.

And we had our 1st official bank failure of the year Friday 4/26, as regulators seized Republic First Bancorp, a troubled Philadelphia lender.

Townstone Financial NMLS#136639 is an Independent Mortgage Broker: that means offer our customers more products, better rates, lower costs, and a higher level of service when compared to the competition.

If you haven’t discovered this for yourself yet, set-up a FREE consultation at https://townstone.com/consultation-request/

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Refinance Mortgages

Home Equity Lines/Loans

Reverse Mortgages

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Lions and Tigers and 10-year Treasury Yields Surpass 4.5% (Oh My!)

So, what’s the ACTUAL impact on the economy and consumers? As Treasury yields rise, interest rates on consumer loans, such as mortgages and car loans, often increase. This can lead to higher borrowing costs for mortgages, cars, credit cards, and more.

Middle East Tensions get hotter! Escalations between Israel and Iran have already led to a selloff in Iranian currency and stocks, indicating increased market volatility and investor concern over the stability of the region. We expect this to put pressure on oil prices/outflows from emerging markets. Also, is it time to buy some defense stocks like weapon manufacturers?

Real Estate Insights -

Home Prices: Home prices nationwide were up 6.4% year-over-year in February.

Sales Volume: The number of homes sold rose 2.8%, and the number of homes for sale rose 4.9%

Market Predictions: Experts predict a slower rise in home prices this year compared to recent years, but price fluctuations will continue to vary regionally and depend strongly on local market supply.

Market Size: The Residential Real Estate Market in the United States is estimated at USD 2.53 trillion in 2023, and is expected to reach USD 2.80 trillion by 2028, 2.04% estimated growth during the forecast period (2023-2028).

These trends indicate a market that is still adjusting to post-pandemic conditions, with a mix of rising prices and increasing sales volume, alongside predictions of a more balanced growth in the coming years.

Just in case you didn’t pay attention in class: Except during the brief total phase of a total solar eclipse, when the Moon completely blocks the Sun’s bright face, it is not safe to look directly at the Sun without specialized eye protection for solar viewing.

Mortgage rates start the week higher as the 10-year Treasury yield is above 4.4% (highest YTD, but nowhere close to the 5% we saw last October)

Handyman Zach! Replaces his car’s wiper blades/air filter, and Nintendo Joy-Con stick drift fixed by replacing them.

This or That: Barry Vs. Zach

Barry’s favorite: the Chicago Cubs might be finding their groove with a 6-3 record to date, how far does he think they’ll go this year?

Biden’s new plan to reduce student loan balances for approximately 23 million borrowers, is trying to buy votes?

Labor Department’s Bureau of Labor Statistics reported Friday that nonfarm payrolls grew by 303,000 in March, far above expectations, but will we have another downward revision next month as is becoming the norm?

Friendly Reminder: Townstone is a mortgage company NMLS#136639. Purchases, refinances, home equity lines/loans, reverse mortgages. Low rates, low costs, highest level of service.

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/

Townstone Financial has more products for home purchases, refinances, home equity line, home equity loans, reverse mortgages, down payment assistance, and more! Low rates, top-notch services, and Barry and Zach (what more could you ask for?)

Don't settle for any other mortgage company when you can be working with the BEST!

As always, FREE 1 on 1 consultations available at: https://townstone.com/consultation-request/