Rates
What a roller coaster ride this week!!!
We say rates improve dramatically early this week due to concerns about the Ebola outbreak in Dallas, and yes I am calling it an outbreak, since over 100 people have been exposed.
This had markets extremely worried about effect on the US economy.
Then we also has some disturbing news out of Europe, 2 major European indexes shows that Europe’s Economy may be contracting, with fears that they could slide back into a Recession. This would cause fears in the US as well so bond were bought and stocks were sold.
We also has some rumblings about a Russia taking a key airport in Ukraine, and all of the protests out of Hong Kong has investor worrying about if China will roll in tanks to Hong Kong.
All of this caused rates to fall back to 2014 loans, but then the US economic reports came out.
-Pending home sales -1.0% vs est. of -0.2%, slight miss.
-Case-Shiller Home Price Index 6.7% vs est of 7.5% home price increase, still positive!
-Chicago PMI 60.5 vs est. of 62, above 50 is good, so still a GREAT number.
-Consumer Confidence 86.0 vs est. of 92.5, above 50 still good.
-Initial jobless claims 287K vs est. 297K, very good, below 300K is going to move markets.
-ADP private payroll 213K vs est. of 210K, positive!
-September unemployment 248K new jobs added vs est. 215K
-August revised from 142K to 180K
-Unemployment down to 5.9%
All these economic numbers out of the US were EXTREMELY positive, and if it was for Ebola, we would of have seen rates jump.
Next week I think it is going to focus more on Hong Kong and Ebola rather the US news, I suspect if we start to see more and more Ebola infection out of Dallas, we are going to see markets start to worry even more and see flight to bonds.
CAN-SPAM Act & Do Not Call
As most of you might or might not be aware of, if you get a lead from the internet, you need to see if the person is on the Do Not Call List. Even though a person has given their information, let’s say to Zillow, that doesn’t give you permission to call them.
Looks like there are a few lawsuits coming out regarding people calling potential clients. You should be doing training 1x per year regarding who you can and can’t call.
Link here for compliance: https://www.donotcall.gov/faq/faqbusiness.aspx
Also emails are sneaking their way to people and don’t have the requirements of the CAN SPAM Act, which has certain requirements that prevent people from blasting emails. I use Google Groups for all of my mass mailings, which follow the rules.
Link here for compliance: http://www.business.ftc.gov/documents/bus61-can-spam-act-compliance-guide-business
VA
VA web site has been updated, but needing some help, I have put some of my FAQ in there which people have asked, but I need to know what other questions people have about VA loans.
Take a peek, and if there is any questions regarding VA loans which I have not covered, please email them direct to me, what to create a good resource!
Link to site here: http://www.375loan.com/loan_products/va_home_loans/
Lead Generator
New Web Extension are being released!!!
So instead of .com, .biz, .info, .cc, you can now get:
.realestate
.house
.home
And a few hundred more!!!
I will be changing my web site to www.idaho.loans
Easier to remember and looks good for searching, contact you web provider for more details.
Don't Forget:
-New Good Faith Estimates and Closing doscument HUD-1 being released in < 10 months!
-Rural Development changed guidelines, map and fees on 10/1/2014: http://www.375loan.com/loan_products/rd_home_loan/
-FHA allows for FICO scores down to 530!: http://www.375loan.com/loan_products/fha_home_loans/
-Fannie Mae is discontinuing HomePath program!