Rates
Rates trended up all week, and should of headed higher if it wasn’t for the Russian invasion.
As you can see we are at some of our worse levels since February 12th.
Almost all of the economic reports that came out this week were good:
ISM Manufacturing 53.2 vs est. of 52.0
ADP private payroll 136K vs est of 160K, down but still positive.
Jobless claims, 323K vs est of 338K
And finally non farm payroll 175K vs est of 139K
So these along with the foregone conclusion that the world is helpless to do anything about Russia’s invasion, have caused the bonds to sell off, stock market to go higher, thus sending rates higher.
I am in a totally lock mode right now, it will really take some horrible, horrible economic news now to move rates lower, or the US would have to go to war with Russia, and that won’t happen.
Also, it is funny to me how the media is always about 2 weeks behind on reporting rates, just yesterday CNN reported that rates dropped to 2014 lows, but in reality, they jumped up this week.
Lead generator
Say a very interesting article that came out yesterday, a survey of home buyers and how they select their leads.
Anytime a Realtor asks me how I get leads or how they should get leads, I always say “Shaking Hands and Kissing Babies” Famous politician phrase.
And the above data just goes to prove that.
What really surprised me is the number of people NOT getting referrals from the internet, I figured it would be a lot higher than 1%.
So based on this, a Realtor should look at their advertising and how they are getting leads, link here:
Where Do Buyers and Sellers find their Agents?
A VERY good article!
HB 519
If you didn’t read my blog regarding HB 519, you really need to. I am getting calls from agents, asking why their clients are receiving tax bills.