Let's put a smile on that face!

Because last week we actually has something to smile about

Author

John Birke
March 25, 2024

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

March 25th, 2024

Well last week there were a few nice surprises, some close calls, and only a little bad news (but we’re pretty used to at least some of that)

  1. The Fed said they’re keeping rates high, and we actually liked it

  2. and dropped mortgage rates to celebrate!

  3. Plus home sales were way up in February

  4. (even if it might not stay that way)

  5. and home builders are feeling all tingly inside

  6. because home buyers are ready do go small

  7. (because home prices are a little insane).

  8. And bonus, the government didn’t shut itself down so that’s a yay!

Plus, watch your inbox tomorrow for a special treat 🥰

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… with Media first today!

 The Media Part 

I’m gonna keep it short and sweet. The best advice I can give you if you’re looking to not suck at social media anymore, is to come to the event I’m hosting with the one and only @kimsellsconcord on Wednesday!

We’re going to give you the only 2 tools you need to be great at social media: green screen and storytelling.

I promise you can do both, just click the link to get details and get registered for the online or in-person (if you’re a CLT Realtor) event.

See you there!

I Suck At Social Media! There I Fuc*!ng Said it.

Growing thru social and not sucking by being your real self

johnbmortgage.myflodesk.com/isuckatsocialmedia

 The Mortgage Part 

🏛 The Fed Feels Fuzzies: With the economy, even though inflation has been stubborn. They decided to keep rates as is, but still plan to cut them 3 times this year.

Fed holds rates steady and maintains three cuts coming sometime this year

The Federal Reserve on Wednesday released its decision on interest rates following its two-day policy meeting.

www.cnbc.com/2024/03/20/fed-meeting-march-2024-.html

🏠 Home Sales Were Golden: With a 9.5% spike in February as inventory starts to come online and buyers stay hungry despite higher-than-expected rates

February home sales spike 9.5%, the largest monthly gain in a year, as supply improves

Inventory rose 5.9% year over year to 1.07 million homes for sale at the end of February.

www.cnbc.com/2024/03/21/february-2024-home-sales-spike.html?__source=realestate%7cnews%7c&par=realestate

 📉 But Will It Last?: New estimates show fewer sales in 2024 than we thought as rates stay higher for longer than we hoped. But buyers may surprise us…

Higher Mortgage Rate Forecast Leads to Decline in 2024 Home Sales Expectations

The increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024

www.fanniemae.com/newsroom/fannie-mae-news/higher-mortgage-rate-forecast-leads-decline-2024-home-sales-expectations

👷‍♀️ Happy Homebuilders: New construction has a bright future, finally, according to the most recent builder sentiment survey, which turned positive for the first time in months

Homebuilder sentiment turns positive for the first time since July

Homebuilders are seeing better demand despite stubbornly high interest rates.

www.cnbc.com/2024/03/18/homebuilder-sentiment-turns-positive-for-the-first-time-since-july.html?__source=realestate%7cnews%7c&par=realestate

⛺ Go small and go home: New construction has a bright future, finally, according to the most recent builder sentiment survey, which turned positive for the first time in months

NAHB Releases What Home Buyers Really Want, Study Shows Buyers Want Smaller Homes

The 2024 edition of What Home Buyers Really Want reveals that buyers want smaller homes than they did 20 years ago.  In 2003, the typical home buyer wanted 2,260 square feet of finished area.  In 2023, that number was down to 2,067 square feet. 

eyeonhousing.org/2024/03/nahb-releases-what-home-buyers-really-want-study-shows-buyers-want-smaller-homes

📈 Home price hikes: Another new survey shows that home prices have far outpaced inflation, highlighting the current strain on homebuyers

Home prices rose 2.4 times faster than inflation since 1960s, study finds. What that means for homebuyers

While inflation is 10 times higher now than 60 years ago, home prices are 24 times more expensive, a new study found. Here's what that means for homebuyers.

www.cnbc.com/2024/03/19/why-home-prices-have-risen-faster-than-inflation-since-the-1960s.html?__source=realestate%7cnews%7c&par=realestate

😲 The Government is Still Running: In a last minute scramble, Dems and Repubs got together to pass a $1.2T spending bill to keep the government from shutting down

Biden signs $1.2 trillion government funding package, averting partial shutdown

The Senate passed the $1.2 trillion government funding bills early Saturday in a 74-24 vote.

abcnews.go.com/Politics/house-vote-package-avert-partial-government-shutdown-deadline/story?id=108387552

% Mortgage Rates: With the good news from The Fed and potential rate cuts, we managed to drop back under 7%!

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: We have home sales, home prices, and the anticipated PCE inflation report

U.S. Economic Calendar - MarketWatch

U.S. economic calendar consensus forecasts from MarketWatch.

www.marketwatch.com/economy-politics/calendar

Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. This week celebrate our wins from last week and go out there to take advantage of this upcoming spring market!

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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