Did we just get GOOD news last week? It can't be... 😮

Don't worry I checked, there's still some bad in there 😅

Author

John Birke
October 30, 2023

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

🔥October 30rd, 2023🔥

Last Week:

  1. Now home sales were actually up?

  2. Pending homes sales are looking good too??

  3. PCE inflation was higher, but housing expenses dropped in a good way

  4. GDP is hotter than expected (that’s bad 😢)

  5. The House finally cooled off and picked a Speaker (that one depends on your side of the isle 🤷‍♂️)

  6. Rates took a much-needed step back… for now (I’ll take it 👍)

Plus, I have a special video for you AND we get to talk about your favorite (possibly to hate) Taylor 🤩

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, now let’s get to it!

 The Media Part 

🔥 Canva + AI was a hit

I know this is out of order, but Media can’t ALWAYS sit in the back of the class. Besides, this was just too much fun! (Not to mention Taylor Swift is right there 👇)

Last week we wrapped up the Canva + AI: Magic at Your Fingertips series and it was awesome! So many of you came to learn about the new artificially-intelligent tools Canva has to offer, and I’m grateful for it 🙏

But I know some of you didn’t and that’s OK, I forgive you 😇 So much so that I turned the course into a Youtube video so you can see the awesome designs we made with no more than a few prompts and clicks. Check out the vid and hit subscribe if you liked it (or if you didn’t and I’ll just promise to get better at Youtube)

Now get out there and make some Canva/Robot magic!! And don’t forget to tag me @johnbmortgage with your creations on social and check out these links in the meantime ⬇

✅ Hop into the RECC Room for more social media resources and training specifically designed for Real Estate and Mortgage professionals. This is a great space to share ideas, ask questions, and learn a TON of new social media skills  here

✅ Get on the social.easy waitlist for done for you social media content with high-level training and accountability coaching. I’ll send you some additional info about the program as well as a FREE content calendar every week! Check it out here

🔥 Tay Tay is officially next-level rich

Now taking back your entire discography and re-releasing it, dropping multiple platinum albums one after the next, launching one of the most successful tours of all time, and setting an entire sports industry on fire by “supposedly” dating a star player doesn’t work for everyone, but Taylors Swift does it rather well.

So well in fact that she just officially became a billionaire 🤑 Love her or hate her, there’s no more questioning whether or not she’s destined for success. She’s now an economy all her own! And yes, she’s worth more than Kanye 😂 You go girl! Check out the breakdown of her worth in Morning Brew’s post

Morning Brew on LinkedIn: Taylor Swift is her own economy. According to a Bloomberg analysis…

thanks to her Eras Tour; Taylor Swift now carries a net worth around $1.1 billion! ⁠

www.linkedin.com/posts/the-morning-brew_taylor-swift-is-her-own-economy-according-activity-7123725513373724672-hOhd?utm_source=share&utm_medium=member_desktop

 The Mortgage Part 

Check out this week’s video 📽👇

👷‍♀️ New Homes: Sales were actually up in September, despite low homebuilder sentiment. And pending sales being up show this could be the start of a positive trend 🤞

New Home Sales increase to 759,000 Annual Rate in September; Median New Home Price is Down 16% from the Peak

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales increase to 759,000 Annual Rate in September Brief excerpt: The Census...

www.calculatedriskblog.com/2023/10/new-home-sales-increase-to-759000_25.html

NAR: Pending Home Sales Increase 1.1% in September; Down 11% Year-over-year

From the NAR: Pending Home Sales Grew 1.1% in September according to the National Association of Realtors

www.calculatedriskblog.com/2023/10/nar-pending-home-sales-increase-11-in.html

💵 Inflation: PCE prices increased more than expected, and the Federal Reserve is not happy about it

Inflation rises faster than expected, Fed's preferred PCE price tracker shows

The cost of goods and services rose a higher-than-expected 0.4% in September, keeping the pressure on the Fed as it weighs whether to raise interest rates again in November

www.marketwatch.com/story/inflation-rises-faster-than-fed-feds-preferred-pce-price-tracker-shows-ac66d186

🏢 Housing Expenses:  Even though PCE was up, the housing expense portion (a major indicator of long-term inflation) was down, giving a glimmer of hope

PCE Measure of Shelter Slows to 7.2% YoY in September

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 Sept.

www.calculatedriskblog.com/2023/10/pce-measure-of-shelter-slows-to-72-yoy.html

📈 GDP: Our national economy grew at nearly 5% over the last year, higher than expected, and much higher than the Fed would like

U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

GDP was expected to increase at a 4.7% annualized pace in the third quarter, showing that rate increases are not slowing the economy the way the Fed has been hoping for

http://www.cnbc.com/2023/10/26/us-gdp-grew-at-a-4point9percent-annual-pace-in-the-third-quarter-better-than-expected.html

🏛 The Speaker of the House: The House of Representatives finally put the chaos of the last several weeks in the past and elected Repub noob Johnson as head of the chamber. But the infighting is likely not over…

Mike Johnson is the new speaker of the House. Here's what happens next.

The House faces a daunting to-do list after three weeks without a speaker.

www.cbsnews.com/news/mike-johnson-house-speaker-what-happens-next

% Mortgage Rates: After a tumultuous week, rates followed the news reel swings but finally ended a bit lower for the week as the housing market sighed in relief

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: Case-Shiller Home prices and the almighty unemployment 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. Home prices will be interesting to see this week, but the big news will be the unemployment report. If we see another spike in new jobs like last month (more than the expected 175,000) we could be in for some nasty comments from the Fed at their big rate meeting next month.

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

[email protected] | 479.445.5062

Movement Mortgage NMLS 39179
9726 Old Bailes Road, Suites 121 & 130, Fort Mill, South Carolina 29707

NMNLS 1150795

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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