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Is the Fed OK and do Swifties love football now??
This Week's Market + Media Update with JohnB
John Birke
October 03, 2023
The only newsletter (probably) where you can get the latest market trends, mortgage news, and social media updates all in one place
š„October 2nd, 2023š„
Your elected officials after a skin-of-teeth miss of a full blown government shutdown
So rates decided to go on a tare this week just before the federal government barely kept its doors open. A government shutdown was all but inevitable as Republican infighting in the House kept a new spending bill from making its way to the President. But, in a last ditch effort at the literal 11th hour, Repubs and Dems got together (weird, right?) to pass a temporary spending bill. But chances are we will see this fight start up again in 45 days.
Really quick, if someone forwarded this email to you, donāt settle for being at mooch. Sign up and get it for yourself here š
Ok, now letās get to it!
The Mortgage Part
Check out this weekās video š½š
Last week: Home prices set a record, as do mortgage rates (in the bad way), inflation is feeling good, GDP even better, and the Feds narrowly missed screwing the whole pooch
šHome Prices: Despite a lot of fools calling for a housing bubble burst, house prices just hit a new record high!
š°Inflation: The Fedās favorite inflation indicator rose less than expected in August
š¢Housing Costs: Dropping rent prices continue to slow the housing-expense side of inflation numbers
šŖGDP: Despite market turmoil and drops in spending, GDP is still expected to be strong at 3%
š Government Stays Openā¦ For Now: The House narrowly passes a 45-day stopgap spending bill on the eve of a shutdown
% Mortgage Rates: Brutally tumultuous, hitting a multi decade high mid week. Finally settling a bit at 7.44%
šComing this week: Manufacturing, consumer credit and the uber-important unemployment rate
The Media Part
At social.easy
We officially start our Beta Launch of the newest content, coaching and training program this week! Weāll get introduced to the new Real Estate creator community and learn how we will 5X our content in 10% of the time. A lot of you are signed up, but if you missed out donāt worry we are officially extending our registration window for this week only! So check out our launch call recording here, then reach out to me to get signed up! And of course let me know if you have any questions. See you there!
The Treylor Effect
Social Media exploded when Taylor Swift was seen at the Kansas City Chiefs games the past 2 Sundays. She was seen cheering for multi-time Pro Bowler Travis Kelce, hanging out with his mom and leaving the locker room with him after the game. This media frenzy led to a 400% increase in Kelce jersey sales, a nice 250k bump in his Instagram following, and millions of new fans watching the Chiefs play. This is a great example of a pop and social media icon changing the dynamic and economy of an entire brand and industry. Not to mention giving Swifties a whole new meaning to the term ātight endā. They might need to learn how to spell his last name thoā¦
Taylor Swift fans gotta work on their Travis Kelce merch
ā Barstool Sports (@barstoolsports)
10:08 PM ā¢ Oct 1, 2023
š Did you see this??
About a month ago it was reported that Instagram was testing 3 and 10-minute reels in the platform. Well a couple days ago I got a notification that this feature was ready to go š¤© Iām not seeing any articles on this so it may be a soft test with some creators. And maybe Iām the only nerd š¤ who is stoked about this, but this means I donāt have to trim my longer TikToks! That 90 second rule made me crazy, glad to see IG is back to copying its rival š„°
Well thatās it for the best (and likely only) Mortgage AND Media Newsletter out there. This week sit back and watch the Chiefs while listening to Taylorās 1989 on repeat. Apparently thereās some cryptic numerology thereā¦
As always, Iām happy to help you and your clients with anything mortgage, marketing, or social media. See you next week and
Thanks for reading!
John Birke | Mortgage Advisor | Content Coach
NMNLS 1150795
Movement Mortgage
9726 Old Bailes Road, Suites 121 & 130, Fort Mill, South Carolina 29707
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