OK, all this good news is starting to piss me off 😡

Other than the good part of course

October 07, 2024

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

October 7th, 2024

Season 5 No GIF by The Office

Every time we get any great news on the economy… because we’re monsters

Yeah so maybe we are a little monstrous for hating good news. But it’s 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 can’t help who you love and you can’t help the good news you hate! Sorry, okay?

  1. Housing inventory is up, finally. But it’s in a bad way somehow.

  2. Old Jerome is ready to hurry up and take his time

  3. which according to the jobs report will be a very… long… time

  4. and mortgage rates do NOT care for it!

Plus, if you haven’t started telling stories at this point, well, you just need to start okay?!

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!

 The Mortgage Part 

🏡 Inventory Up: The number of homes for sale is way above this time last year. But is that actually a good thing?

Housing Sept 30th Weekly Update: Inventory up 0.8% Week-over-week, Up 36.7% Year-over-year

Altos reports that active single-family inventory was up 0.8% week-over-week. Inventory is now up 48.0% from the February seasonal bottom.  ...

www.calculatedriskblog.com/2024/09/housing-sept-30th-weekly-update.html?m=1

🏦 The Fed will take it’s time:  Powell says there’s no rush to get rates back down, and they’ll make decisions as the data comes in.

Powell indicates further, smaller rate cuts, insists the Fed is 'not on any preset course'

The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.

www.cnbc.com/2024/09/30/powell-indicates-further-rate-cuts-but-insists-the-fed-is-not-on-any-preset-course.html

📈 And this jobs report is proof: We added substantially more jobs in September than expected, and unemployment actually dropped.

U.S. job creation roared higher in September as payrolls surged by 254,000

Nonfarm payrolls were expected to increase by 150,000 in September, according to the Dow Jones consensus forecast.

www.cnbc.com/2024/10/04/september-2024-us-jobs-report.html

😭 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 don’t have the patience for that!

Mortgage rates spike after stronger-than-expected jobs report

The average rate on the 30-year fixed mortgage is now 6.53% according to Mortgage News Daily.

www.cnbc.com/2024/10/04/mortgage-rates-jobs-report.html?__source=realestate%7cnews%7c&par=realestate

% Mortgage Rates: Have spiked 42 basis points since the day before the Fed’s rate drop announcement, averaging over 6.5%

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:  Lots of Fed speeches, but only one CPI inflation report!

U.S. Economic Calendar - MarketWatch

U.S. economic calendar consensus forecasts from MarketWatch.

www.marketwatch.com/economy-politics/calendar

 The Media Part 

You haven’t been telling stories on social?? Time to start!

When it comes to social media, we all know it’s not just about posting pretty pictures or catchy captions. It’s about connecting with people. And the best way to do that? By telling a story.

Think about it—when was the last time you really connected with a brand or a person on social media? It probably wasn’t 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 that’s what makes people stick around.

When you tell a story on social media, you invite your audience into your world. You’re not just another business trying to sell something—you’re 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, don’t be afraid to get personal. Share your ups and downs, your wins and lessons learned. Your audience will appreciate it—and they’ll keep coming back because they feel like they know you.

Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. This week go tell a story. DOn’t hold back, get personal and connect with your audience. It doesn’t matter what it’s about, it will connect with the right people. Your people!

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

@johnbmortgage

479.445.5062

NMNLS 1150795