Rates are way up this morning again, and nobody is happier about that than me – even though these high rates are extremely costly for JVM and the mortgage and real estate industries. On Saturday, I...
Today’s Consumer Price Index (CPI) inflation report came in hotter than expected, and the markets went into panic mode. Rates shot way up, as rate cuts by the Fed seem less and less likely. (Rates...
Borrowers still frequently request ARMs because they have short-term time horizons and want to save as much as they can on their mortgages. They either expect to move or sell in under 5 years, or...
Rates shot way up again this morning (before pulling back) in response to an ADP employment report indicating that private payrolls increased by 184,000 in March, far exceeding estimates and hitting...
Which country has far more debt than the United States? The answer is China, along with many other countries. Everyone focuses on the United States’ massive federal debt levels, but […]
The Fed held the Fed Funds Rate steady this month – which was no surprise. The big surprise was that it announced that we’d see 3 rate cuts this year […]
Jerome Powell is terrified of having an Arthur Burns legacy. So, he’d much rather push the U.S. into a severe recession than risk cutting too soon – and re-igniting inflation. Yes, recessions and...
My son and I recently visited a fast-food restaurant in CA’s Central Valley where the new minimum wage laws ($20 per hour starting in April) had been implemented – and […]
“I hope the stock market continues to boom because that means more money for down payments, a willingness to buy no matter what, and more appraisals for me…” I have a friend in the SF Bay Area...
There are about 1,460 active listings in the two counties near our SF Bay Area office – the lowest number I have ever seen … by far! (In contrast, there were almost twice as many at this time in...
This may be my most interesting blog of the year. In September I blogged about why I and so many analysts were so wrong about interest rates dropping in 2023: Why I Was So Wrong About Interest...
One of the biggest misconceptions our pre-approved buyers have is that the market is soft because of today’s higher rates. While it is a fact that today’s higher rates are keeping an enormous...
Slippery up and sticky down! Elevator up and escalator down! Those are the cliches we often hear about interest rates, and we’ve seen them play out in spades in recent weeks. Investors panic...
We had a borrower who did not want to lock his loan last week because he was convinced interest rates would fall further. But, instead of falling, rates actually rose almost 1/2% over the ensuing...
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