We're getting very excited now...

Your Mortgage + Media Newsletter with JohnB

Author

John Birke
June 03, 2024

The only newsletter (probably) where you can get the latest market trends, mortgage news, and social + AI updates all in one place

June 3rd, 2024

Excited Friday GIF by SpongeBob SquarePants

We might be getting excited a little too early

We we’re just happy as could be, though we probably shoudn’t be…

  1. I mean, home prices set another record

  2. but GDP is slumping.

  3. Though inflation is down, that’s nice,

  4. in part because housing costs are better,

  5. and that seems to be getting mortgage rates comfy in the mid 7 range

Plus, a new TikTok creation station

Really quick, if someone forwarded this email to you, don’t settle for being at mooch. Sign up and get it for yourself here 👇

Ok, let’s get to it!

 The Mortgage Part 

🏡 Record Setters: The Case Schiller report shows home prices at a new record high for the 9th month in the last year

Home prices reach new high in March, Case-Shiller says, fueled by scarcity

Home prices in the 20 biggest U.S. metros hit another all-time high, as the housing market remains hampered by a low number of properties for sale.

www.morningstar.com/news/marketwatch/2024052884/home-prices-reach-new-high-in-march-case-shiller-says-fueled-by-scarcity

📉 GDP Yawns: After strong GDP numbers for the last several months, the US saw just 1.3% YoY growth last quarter on the tails of lower consumer spending

US GDP Growth Was Slower Last Quarter on Soft Consumer Spending

Economy expanded at 1.3% pace versus initial estimate of 1.6%

www.bloomberg.com/news/articles/2024-05-30/us-gdp-grew-at-softer-pace-as-spending-inflation-marked-down?embedded-checkout=true

💲 And so does inflation: The Fed’s favorite PCE inflation gauge finally came in where expected, giving us hope that we are soon headed back toward the 2% mark

The Fed’s preferred inflation measure rose 0.2% in April, as expected

The personal consumption expenditures price index for April was expected to show an inflation rate of 2.7% over the past 12 months.

www.cnbc.com/2024/05/31/pce-inflation-april-2024-the-feds-preferred-inflation-measure-rose-0point2percent-in-april.html

 💸 Housing costs too: The all important housing component of inflation cooled off as overall costs begin to level off

PCE Measure of Shelter Slows to 5.6% YoY in April

Here is a graph of the year-over-year change in shelter from the CPI report and housing from the PCE report this morning, both through April...

www.calculatedriskblog.com/2024/05/pce-measure-of-shelter-slows-to-56-yoy.html

 📈 So we’re feeling pretty good: Consumer confidence is up despite lackluster data. Maybe we’re into the whole spending less thing. Am I a minimalist now?

Americans are feeling better about the economy for the first time in four months | CNN Business

Americans’ attitudes toward the economy improved this month for the first time since January, thanks to better perceptions of the job market.

www.cnn.com/2024/05/28/economy/us-economy-job-market-may/index.html

 ➕ But they want more: Fed says we need a lot more than a “leveling off” of inflation before they’re willing to entertain rate cuts

Fed's Kashkari wants to see 'many more months' of positive inflation data before a rate cut

The Federal Reserve should wait for significant progress on inflation before cutting rates, Minneapolis Federal Reserve President Neel Kashkari said Tuesday.

www.cnbc.com/2024/05/28/feds-kashkari-wants-to-see-many-more-months-of-positive-inflation-data-before-a-rate-cut.html

% Mortgage Rates: Are getting uncomfortably comfortable near that 7.5% range, and don’t seem to have much reason to head back south anytime soon

MBS Dashboard - MBS Prices, Treasuries and Analysis

View MBS prices and charts and follow the day's market activity with Micro News and Commentary.

www.mortgagenewsdaily.com/mbs

🔍 Coming this week: Now we look forward to jobs numbers to tell us how the economy is doing as a whole this month

U.S. Economic Calendar - MarketWatch

U.S. economic calendar consensus forecasts from MarketWatch.

www.marketwatch.com/economy-politics/calendar

 The Media Part 

A new TikTok creation station

TikTok has introduced a new dashboard called TikTok Studio, designed to help creators manage their TikTok presence more efficiently. This platform is an updated version of the Creator Center and allows users to handle video uploads, editing, performance analytics, and more from a single location on desktop.

TikTok Studio consolidates various creation and management tools, making it easier for creators to access and use them. Users can upload, film, edit, and post videos directly from the platform, utilizing tools like auto caption, photo editor, and autocut for professional-quality content.

In addition to streamlining content creation, TikTok Studio emphasizes monetization by consolidating growth opportunities and offering tailored program recommendations. It also provides direct access to the Creator Academy for educational resources.

While the tools themselves are not new, their integration into one platform simplifies the user experience. Currently, TikTok Studio is available as a web app, with plans to test a standalone app in the future.

TikTok Launches Management Platform for Creators

The new management platform brings together a range of tools into one place.

www.socialmediatoday.com/news/tiktok-launches-studio-management-platform-creators/717160/?utm_source=Sailthru&utm_medium=email&utm_campaign=Newsletter%20Weekly%20Roundup:%20Social%20Media%20Today%2006-01-2024&utm_term=Social%20Media%20Today%20Weekender

Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. This week work on forgiving me for my recent hiatus from sending out this newsletter. Sorry about that but I had things to do. I’ll be better from now on I promise.

And as always, I’m 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

NC-I-211026, SC-MLO-1150795, AR-128178, MO-1150795, OK-MLO29209 | Movement Mortgage LLC. All rights reserved. NMLS ID #39179 (www.nmlsconsumeraccess.org). Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. For more licensing information please visit movement.com/legal.


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