Rates
Well over the last 2 weeks we have seen improvement in mortgage rates, mainly due to some economic news from overseas, but also with the opinion that the US is kind of stuck in a rut, not improving and definitely not going south.
Economic news:
-ISM non-Manufacturing, works in the service section, 75% of the US economy, 56.5 vs est. of 56.9, above 50, which is good, but not moving much.
-Retail sales 0.4% vs est. 0.7%, positive but still not great.
-Homebuilder’s index, not a market mover but 56 vs est. 55
-Jobless claims this week 294K vs est. 280K,
-March housing starts 926K vs est. 1.045M
-Building permits 1.030 vs est. 1.081M
-Inflation, CPI 0.2% vs est. of 0.1%, still pretty much non-existent.
Although all these reports were positive, there were still at PAR, so the US economy is stalling??? Who knows.
Greece is on the verge of collapsing, Vegas odds went from 1-5 to even money on Tuesday, Yes Bookies take those bets! Most of Europe is already preparing for this, I feel if Greece does default, it will be a shock to the system, not a major one, but one. And rates should go down.
More fighting out of Ukraine, putting pressure on bonds as well, good for rates.
Sitting on a neutral stance, lock if you don’t like to gamble, let it float if you like to gamble. But watch Greece, I think this will be the major story for the rest of the month.
House Resolution 685
Currently in Congress, this bill would adjust, repeal, remove, add word here, the Qualified Mortgage Requirements and soften them a little. Has good support of both sides of the isle, something to watch now that Republicans are in control. YES less government regulation!
Password Box
Right now, I have to have 104 different passwords for various programs, YIKES! And I definitely DO NOT want them all the same.
So I picked up a program call PasswordBox. Cost me $12/year, and worth EVERY PENNY!!!!
I would highly recommend it, link to try it out, they give you 20 passwords for free so give it a try: http://j.pbox.io/EI03WLtT
Texting
Does your company have a texting policy? Do you do business on Text?
If so are you properly disclosing licensing, and other regulated items?
IF not, beware, CFPB has been nailing everyone for advertising on Facebook, doing business via Text, and on the Twitter, Instagram, etc….
Lead Generator for the week.
Neighborhood yard sales!
This time of year, each of your neighborhoods will more than likely have a Neighborhood Yard Sale. Wouldn’t that be a GREAT time to set up a pop-up on your driveway, have some Real Estate Signs there, some ListingBooster Signs there, and offer “Come See what your home is worth”!
Then you can do some quick price analysis, and then offer to do an in-depth FREE CMA.
Give out some Swag, and meet your neighbors and everyone one that comes around.