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- OK, all this good news is starting to piss me off š”
OK, all this good news is starting to piss me off š”
Other than the good part of course
October 7th, 2024
Every time we get any great news on the economyā¦ because weāre monsters
Yeah so maybe we are a little monstrous for hating good news. But itās not our fault, this high interest rate environment confuses us. Good news is bad because it means rate cuts can stay higher for longer. And bad news is good because it means rate drops are coming.
You canāt help who you love and you canāt help the good news you hate! Sorry, okay?
Housing inventory is up, finally. But itās in a bad way somehow.
Old Jerome is ready to hurry up and take his time
which according to the jobs report will be a veryā¦ longā¦ time
and mortgage rates do NOT care for it!
Plus, if you havenāt started telling stories at this point, well, you just need to start okay?!
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, letās get to it!
The Mortgage Part
š” Inventory Up: The number of homes for sale is way above this time last year. But is that actually a good thing?
š¦ The Fed will take itās time: Powell says thereās no rush to get rates back down, and theyāll make decisions as the data comes in.
š And this jobs report is proof: We added substantially more jobs in September than expected, and unemployment actually dropped.
š And rates took a hit for it: Though more jobs is good news, it means the Fed will make rate cuts a slow process. And we just donāt have the patience for that!
% Mortgage Rates: Have spiked 42 basis points since the day before the Fedās rate drop announcement, averaging over 6.5%
š Coming this week: Lots of Fed speeches, but only one CPI inflation report!
The Media Part
You havenāt been telling stories on social?? Time to start!
When it comes to social media, we all know itās not just about posting pretty pictures or catchy captions. Itās about connecting with people. And the best way to do that? By telling a story.
Think about itāwhen was the last time you really connected with a brand or a person on social media? It probably wasnāt because of some perfectly polished ad. It was more likely because they shared something that felt real. Maybe it was a personal story, a struggle they overcame, or a behind-the-scenes look at their process. Stories draw us in because they make us feel something. They create a connection, and thatās what makes people stick around.
When you tell a story on social media, you invite your audience into your world. Youāre not just another business trying to sell somethingāyouāre a person with experiences, challenges, and triumphs. Whether you're a realtor sharing the journey of a first-time homebuyer or a loan officer explaining how a family secured the loan to buy their dream house, your stories make you relatable.
So, donāt be afraid to get personal. Share your ups and downs, your wins and lessons learned. Your audience will appreciate itāand theyāll keep coming back because they feel like they know you.
Well thatās it for the best (and likely only) Mortgage AND Media Newsletter out there. This week go tell a story. DOnāt hold back, get personal and connect with your audience. It doesnāt matter what itās about, it will connect with the right people. Your people!
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
@johnbmortgage
479.445.5062
NMNLS 1150795