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November Housing Report:
A 4% rate? That's unheard of in this market... right?
Wait until you hear about a loan program that allows you to save thousands of dollars for the first 3 years of your mortgage.
Reach out to me today to talk about your options:
Haley Thayer retweeted
FOMC Minutes Show Concern That Markets Do Not Believe the Fed's Resolve mishtalk.com/economics/fomc-… #politics #political #economy
Haley Thayer retweeted
Mortgage Rates Still in Good Shape After Fed Minutes @mortgagenewsmnd housingbrief.com/r/I8YG6D #mortgagerates via @mbslive
Haley Thayer retweeted
Stock market got a ‘Santa Claus rally’ after all trib.al/TM4SrVg
Home values are dropping and mortgage rates are starting to trend lower. It's a great time for buyers to negotiate in a market that is slowing down.
uamco.net/hthayer/blog/get-t…
The inflation component inched higher to 4.6% from 4.5% in the first read. The personal savings rate fell to 2.8% from 3.3%.
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After two straight negative quarterly readings for economic growth in 2022, Gross Domestic Product (GDP) rose by 2.9% in the second read from Q3 and up from the first look of 2.6%. The report showed that consumer spending was up 1.7% versus the 1.4% estimated.
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The Unemployment Rate remained at 3.7% while the Labor Force Participation Rate fell to 62.1%, below the pre-pandemic level (Feb 2020) of 63.4%. Hourly earnings rose 0.6% monthly, above the 0.3% expected.
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Job growth came in above expectations in November but it was the lowest print this year. Non-Farm Payrolls rose 263,000 versus the 200,000 expected and down from 284,000 in October.
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Haley Thayer retweeted
If you are still in good standing credit-wise, you’ll likely have more options for reducing your mortgage payments through a refinance. With some planning, you can give yourself leeway to get back to a more secure stage of life.
themortgagereports.com/20984…
Haley Thayer retweeted
Stocks fell through a key support on Tuesday and it looks like some recent momentum has now petered out. The new line in the sand for the S&P 500 seems to be 3,900. What’s clear is that the U.S. stock market is still in a bear market. trib.al/bLwgcPb
MBA: Market Composite Index -0.8%, Refinance Index -12.9%, Purchase Index +3.8%. the 30-yr fixed-rate mortgage fell 18bp to 6.49% for the week ending November 25. This is ahead of Fed Chair Powell's speech today.
The JOLTS report shows the number of job openings inched lower to 10.334 million at the end of October. The Chicago PMI at 37.2 in November vs 47 expected and down from 45.2 in October.
Haley Thayer retweeted
As rates go (up), home purchase mortgage applications go (down).
As rates have eased off of 7%, heading back to around 6.5%, U.S. home purchase applications have bounced back a bit.
ALT time series chart of US home purchase applications and average mortgage interest rate. data source: MBA
Haley Thayer retweeted
Lenders that offer streamlined refinances in the future shouldn't be required to consider the borrower's income or employment status, @MBAMortgage argued.
By @Orla_McCaffrey
trib.al/de5ufTR
Haley Thayer retweeted
The economy grew at an annual 2.9% pace in the third quarter, updated figures show.
The main engine of the economy, consumer spending, increased at a 1.7% annual clip in the third quarter, the government said. Previously the increase was put at 1.4%. trib.al/IsuwMYZ
Haley Thayer retweeted
Inflation Adjusted House Prices 3.3% Below Peak
House Price-to-Rent Ratio Declines to 4.7% Below Peak calculatedrisk.substack.com/…
