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Your Mortgage + Media Newsletter with JohnB

Author

John Birke
April 15, 2024

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

April 15th, 2024

So Iā€™m not ready to say hope of lower mortgage rates is lost yet, but itā€™s definitely on delay and weā€™re starting to see ripples of that throughout the economy

  1. $1 mil ainā€™t even that much anymore

  2. and those high prices with even higher rates ainā€™t even scaring nobody.

  3. But that damn CPI Report is!

  4. Now we have no clue what to think about rates from here on

  5. with small businesses pretty sure itā€™s not gonna be good

  6. and mortgage rates definitely sure about it!

Plus, Tiktok is experimenting with another platform thatā€™s basically opposite of itself?

Really quick, if someone forwarded this email to you, donā€™t settle for being at mooch. Sign up and get it for yourself here šŸ‘‡

Ok, letā€™s get to it!

 The Mortgage Part 

šŸ” Really, just a milli?: More cities than ever have stopped blinking at $1 million home price tags

$1 million homes are now 'typical' in a record number of U.S. cities, analysis finds. Hereā€™s where they are

There are 550 American cities where the typical home is valued at $1 million or more, a new record high, according to a new analysis by Zillow. Here's why.

www.cnbc.com/2024/04/09/the-us-has-550-cities-where-million-dollar-homes-are-typical.html

šŸ™ƒ Happy/sad pandas: Buyers and homeowners feel gloomy about the future of rates and prices, but that's not stopping them from buying and selling anymore

Consumers expect mortgage rates to go up in the next year, but Fannie Mae expects a 'thaw' in the housing market

Consumer sentiment towards housing fell in March, but signs point to home buyers and sellers making peace with higher mortgage rates and home prices

www.morningstar.com/news/marketwatch/2024040885/consumers-expect-mortgage-rates-to-go-up-in-the-next-year-but-fannie-mae-expects-a-thaw-in-the-housing-market

šŸ“ˆ The wrong direction: CPI numbers showed inflation is headed back up, confirming fears that we'll be waiting longer than we thought for rate cuts.

Consumer prices rose 3.5% from a year ago in March, more than expected

The consumer price index in March was expected to increase 3.4% from a year ago, according to the Dow Jones consensus estimate.

www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html

'They can't get it wrong again': Economists are increasingly uncertain about Fed rate cuts this year

The Fed is more likely to err on the side of caution given its past mistakes, says one chief economist.

www.cnbc.com/2024/04/08/they-cant-get-it-wrong-again-will-the-fed-cut-rates-this-year.html

šŸ•° Delayed gratification: Bank of America ow think we won't see Fed Rate cuts start until December at best

Bank of America Pushes Rate-Cut Expectations to December

The hotter-than-expected March CPI report scrambled a lot of Wall Street projections about the Federal Reserveā€™s interest rate policy

www.wsj.com/livecoverage/stock-market-today-dow-jones-04-11-2024/card/bank-of-america-pushes-rate-cut-expectations-to-december-xjBpqtEzejMGxN8oXss2

šŸ˜¬ Risky business: Small business owners have hit a new low in their outlook of the economy, as as they continue to feel the pinch of inflation that seems to be here for the long haul

Small business optimism hits 11-year low as inflation fears won't go away

The NFIB's survey showed a reading of 88.5, down nearly a point from February to the lowest since December 2012.

www.cnbc.com/2024/04/09/small-business-optimism-hits-11-year-low-as-inflation-fears-wont-go-away.html

% Mortgage Rates: Had one of the worst single-day increases in decades after CPI data dropped, ending us well over 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

šŸ” Coming this week: Some home sales data, and a bunch for Fed officials telling us a lot of things we probably already know but really donā€™t want to hear

U.S. Economic Calendar - MarketWatch

U.S. economic calendar consensus forecasts from MarketWatch.

www.marketwatch.com/economy-politics/calendar

 The Media Part 

TikTok Notes may be on itā€™s way soon, but will anyone care?

TikTok is planning to launch a new app called "TikTok Notes," which will be dedicated to photo sharing. This app is similar to the original Instagram, focusing only on still images. TikTok Notes will feature photos that users have already uploaded to TikTok, making use of existing content. The app is part of TikTok's strategy to tap into the photo-sharing market, a move inspired by successful platforms like Xiaohongshu in China that combine photo sharing with e-commerce.

Currently, TikTok Notes is still in the experimental phase. The company has been encouraging users to post more photos by adding new features like a "photo mode" in 2022. This initiative reflects TikTok's broader strategy to diversify its offerings. ByteDance, TikTok's parent company, has also launched other projects such as Lemon8 and TikTok Music to explore different types of digital content and interactions.

However, there is some skepticism about whether users really need another app just for photos, especially since TikTok is primarily known for its short-form video content. It seems strange to make an another app thatā€™s basically the opposite of what everyone loves about the original. This new venture is part of TikTok's efforts to continue growing and innovating amid potential regulatory challenges. So if it officially launces, are you getting TikTok Notes?

TikTokā€™s Photo App Moves a Step Closer to Reality

A separate photos app from TikTok? Will that work?

www.socialmediatoday.com/news/tiktoks-photo-app-looks-step-closer-to-reality/712502/

Well thatā€™s it for the best (and likely only) Mortgage AND Media Newsletter out there. Well, I probably should have told you to NOT watch the CPI drop last week and saved you the pain. Maybe we watch something more positive this week. Instead of Wall Street maybe we head up the borough to Sesame Streetā€¦

And as always, Iā€™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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