Surge In Contracts, Pre-Approvals, And Returning Clients

Rates fell again today, exactly like macro pundits Jeff Snider and Barry Habib have been predicting for about a year now.

Once again – they both told us earlier this year that rates would fall in response to signs of economic weakness and slowing inflation.

I make such a big deal about this over and over because they are both predicting even more economic weakness, less inflation, and therefore even lower rates next year.

But – Here’s What Is Really Interesting!

This week, we had a huge upsurge of: (1) borrowers getting into contract; (2) pre-approved borrowers returning for updated payment scenarios and other info; and (3) pre-approval requests.

This was of course a shock because early December is normally a very slow time of the year – especially when the market is very slow overall.

We suspect that this recent surge of business was sparked by the fairly sharp drop in interest rates we have seen over the last month or so.

So – if the recent 1% drop in rates sparked this much new business, can you imagine what will happen if Habib and Snider continue to be correct and rates drop another 1% to 2% next year?

If readers would like to hear more reasoning as to why rates will fall further, here is an excellent podcast that just dropped yesterday: Julia La Roche Interviews Jim Rickards. Rickards is a renowned author, macro pundit and monetary expert who has also been amazingly accurate with his predictions over the years.

CoreLogic Is Predicting 4% Appreciation in 2023!

Last but not least, CoreLogic released its U.S Home Price Insights Report yesterday (based on October data).

Home prices climbed about 10% year over year and were largely flat month over month (from September to October).


But wait, I keep reading that a “housing crash” is coming?? I guess CoreLogic, with all of its data, did not get that memo…

Jay Voorhees
Founder | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167

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