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I'm getting mixed signals here š
This Week's Mortgage + Media Update with JohnB
John Birke
January 29, 2024
January 22nd, 2023
Last Week:
The economy basically canāt decide if it wants to fall into a recession or not, and we arenāt 100% sure which way we want it to go. Talk about playing with our emotions š
Builders hit their stride in ā23, but we want more!
Mortgages get paid without the drama
Indicators say a recession is coming, but the other numbersā¦
Like GDP say weāre growing strong
And inflation keeps dropping too
Plus, A bunch of new AI tools are headed to your fave social platforms š¤ But could they be better?
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 before we get to it, if youāre coming to social.ready tomorrow so you can get your social media a few leaps and bounds ahead of your competition, I canāt wait to see you there!
And if you havenāt signed up and donāt want to be one of those left in the dust, get registered for this free workshop and get serious about social in 2024.
When: Tuesday, January 30th, 10AM-12PM EST
Where: Suffolk Punch Brewing (South Park Location) - 4400 Sharon Rd, Charlotte, NC 28211
OR by Zoom if you canāt make it in person!
OK NOW letās get to it!
The Mortgage Part
Check out this weekās video š½š
š” Building Boom: Builders stepped up their game last year as they built the most homes in over 15 years. But it wasnāt enough to keep up with surging demand.
š° Mortgages getting paid: Mortgages in forbearance continue to stay low, a major indication that payments arenāt straining homeowners and a recession may not be looming
š² Recession or donāt already!: All the indicators say we are getting ever-closer to a recession, but we still arenāt seeing it in the rest of the economy. Is that good or bad?
š GDP: Our economy grew way faster than expected, beating estimates by almost 50% last quarter. But what does that mean for us?
š Inflation: Continues to remain under control as PCE shows only a 2.9% increase in personal expenses from last year
% Mortgage Rates: Stayed steady despite good economic data as we wait for a lot of big numbers to come out next week
š Coming this week: So much going on with Case-Schiller home values, consumer confidence, the Fedās rate meeting, and the uber-important jobs report
The Media Part
š Social platforms are scrambling to integrate generative AI, where have they landed so far and whatās coming next?
We all know how game-changing artificial intelligence is going to be in 2024, but what that will look like is anyoneās guess right now. There are lots of ways we could see this come up in basically every industry out there. But what are some ways that our favorite social media platforms might use it. In a recent article by Andrew Hutchinson, he breaks down whatās new and whatās coming on the biggest social spaces:
Metaās looking to integrate AI via celebrity-influenced chatbots, and a new option that will enable you to create your own AI friend in its apps, as well as image generation options on both Facebook and IG.
LinkedInās added AI post generation, along with various other elements related to job posts and ads. And while AI recommendations for marketing make sense, in line with engagement trends, post generation seems almost counter-social, and counter-intuitive for social apps.
X has added its Grok AI chatbot to the main app UI, and itās working on a way for connect Grok directly into the composer, so you can share AI-generated text as updates.
Snapchat has its āMy AIā chatbot in user inboxes, while itās also experimenting with profile image generation and digital pets.
TikTok also has generative AI profile images, while itās also experimenting with text-to-video creation, AI music generation, and chatbots for varying purpose.
But he questions whether or not these will actually enhance our social experience or if there are other options that might be better suited for us in the social media world. Check out the full article here.
Well thatās it for the best (and likely only) Mortgage AND Media Newsletter out there. This week letās try not to dwell on the potential for a massive, economy-crushing recession on the horizon and just look ahead to some big numbers that will hopefully signal a great 2024 for you and your business! Be cause I think itās coming and I canāt wait š
And 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
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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