Rates
Well hope you all had a GREAT Thanksgiving!
And it looks like the consumers all went to town and spent lots of money, yeah for the economy…BOOOO for Rates.
Yes, rates took another dump last week, raising to highest level since September 19th. Making their way towards that 5% mark.
So what happened last week, well it was pretty much all about the consumers and jobs.
Jobless claims came in at 316,000 on estimates of 330,000
Chicago PMI came in at 63 vs estimates of 60, showing more growth in purchasing.
Consumer Sentiment came in at 75.1, HUGE Number.
These numbers caused the bond market to sell off on Thursday, and it continued today, whereas ISM manufacturing came in at 57.3 on estimate of 55.
This week we have major economic news coming out, that includes:
ADP Payroll-major report
Total auto Sales-high report
ISM non-manufacturing-Major report
New Home Sales-high report
GDP-Major Report
Unemployment-GRAND DADDY of them all
If this one come out higher than expected, expectation is 184,000 jobs created, WATCH out, rates could shoot into the 5’s on Friday.
Personal Income-High report
Michigan Consumer Sentiment-Mid Report
We are so in a locking mode here, there is no room to gamble. Economist from Freddie Mac expects rates to be in the 5’s by March. Remember….6% isn’t a bad rate, and repeat.
It will really take some major bad economic news right now to prevent rates from raising. And all expectations is the Fed will ease QE 3 in March.
Flood Insurance
Be on the lookout for more and more homes to become flood zones, AND rates for flood insurance are going up, in some cased over 600%.
So just because a person’s home is was not in a flood zone, doesn’t mean it isn’t in one today. Some of the areas most affected will be homes by 5 Mile and 10 Mile Creek and Indian Creek.
You can thank Biggert-Waters Flood Insurance Reform Act of 2012 for this mess!
Lead Generator
Over the last few weeks I have been giving out some lead generators, and many RE agents have taken them on!
And one outgoing RE agent, used my Circuit Breaker generator and got 2, yes 2! Leads from it. Not too shabby!
So this week is a pretty easy one, Send out Christmas Cards to all of your past clients!
But you say, you didn’t write down their addresses, well then go back into your files, because you have to keep all of your PSA contracts for 5 years for audit purposes, and start getting the addresses.
Put them into your MS Outlook, and then you can print off labels from there.
40 Pack of really nice cards from Costco is $15, and stamps are $.44 each, so that is a total of .82 investment, about a couple of hours of your time and you just said Hello to a past clients and wished them a Happy Holiday.
And it is a nice thing to do!
CE Class
Still a few seats available for my IREC CE Class, 3 CE credits! Free! Lunch on Me!
Link here: https://www.titleonecorp.com/productsandservices/continuinged_registration.aspx?class=76