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Some are about to save a ton of 🤑, the rest already have!

Some are about to save a ton of 🤑, the rest already have!

This Week's Market Update with JohnB

John Birke
September 11, 2023

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

🔥September 11^th, 2023🔥

With mortgage rates at generational highs, sellers just aren’t willing to give up their current record-low rates… no matter how badly they need to move

A recent survey (check out the details ⬇) shows that 82% of homeowners feel stuck because of their low interest rates… and that won’t change any time soon

Really quick, if someone forwarded this email to you, don’t settle for being at mooch. Sign up and get it for yourself here 👍

The Mortgage Part

Check out this week’s video 📽👇

Last week: Rents might be ready to dip, home equity is headed the other direction, homeowners are going nowhere fast, and surprise, rates suck!

🏢Rent Prices: On the verge of dropping as August rent was only up .28% over last year, due mostly to new construction

Apartment rents are on the verge of declining due to massive new supply

The number of new units being built is at a 50-year high, with more than 460,000 being completed this year alone.

www.cnbc.com/2023/09/08/apartment-rents-on-verge-of-declining-due-to-massive-supply.html

💲 Home Equity: Near all-time high as Americans have accumulated almost $30 trillion

‘House-rich’ Americans are sitting on nearly $30 trillion in home equity.

Homeowners are sitting on nearly $30 trillion of home equity, just shy of the peak in 2022.

www.cnbc.com/2023/09/07/americans-have-almost-30-trillion-in-home-equity-how-to-tap-it.html

🏡 Sellers Aren’t Selling: Homeowners say they likely won’t be willing to sell until rates hit 5.5%, so we might be here a while

Mortgage rate tipping point: Homeowners say roughly 5% is the magic number to move

Nearly 82% of homeowners feel “locked-in” by their existing low-rate mortgage

www.cnbc.com/2023/09/05/mortgage-rate-tipping-point-homeowners-say-5percent-is-the-magic-number.html

💳 Consumer Credit: Grows slower than expected as consumers rely less on credit cards. But worries still loom.

U.S. consumer credit growth slows in July

Total U.S. consumer credit rose $10.4 billion in July, down from a revised $14 billion gain in the prior month, the Federal Reserve said Friday

www.marketwatch.com/story/consumer-credit-growth-slows-in-july-a36ba713

% Mortgage Rates: A drop on Friday helped, but the damage was already done as rates ended higher for the week: 7.22%

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: Consumer Price Index, PPI, and retail sales

The Media Part

Social Media Tip of the Week

DM like a pro: IG just released some boss-level pointers for messaging clients on the platform. Straight from the horses mouth.

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Bonus Tip: Use AI to help craft your FAQs and auto-answers (I can help with that)

In the News

Is Threads Unraveling?: The new Twitter alternative from Meta has seen a usage nosedive after its recent release. Can new updates stage a recovery?

Meta strengthens Threads offerings as usage unravels

New updates include stronger integration with Instagram.

www.marketingbrew.com/stories/2023/09/06/meta-strengthens-threads-offerings-as-usage-unravels

A Little Gossip

There’s talk that TikTok (rhyme intended) is doubling down on social networking. Resent job postings for engineers suggest this as the video giant looks to build a platform that “enables users to meet and interact with their real-life friends seamlessly on TikTok.”

Scoop: TikTok eyes more social networking features

TikTok has posted a slew of new jobs in the past week for roles that include building more social networking and private messaging features.

www.axios.com/2023/09/05/tiktok-social-networking-messaging-features?utm_campaign=mkb&utm_medium=newsletter&utm_source=morning_brew

In The RECC Room

This week our training is live as we join Sarah Hilton from The Lead Suite at Suffolk Punch in Charlotte for a little AI Brunceon (yeah that’s a luncheon, but with Brunch). We’ll talk about the exciting new world of Artificial Intelligence, how it’s changing everything, and how you can use it to grow your Real Estate Empire. With a mimosa in hand to boot! If you don’t have a ticket yet, here is your literal last chance.

And if you aren’t a part of the best damn Real Estate Content Creator Group out there, let’s fix that 👇

My goal is to make this newsletter so damn good that you HAVE to open it and feel COMPELLED to read it every time. Please reply and let me know if you like it or how I can make it better for you!

As always, I’m happy to help you and your clients with anything mortgage, marketing, or social media.

Thanks for reading!

John Birke | Mortgage Advisor | Content Coach

NMNLS 1150795

[email protected]

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

www.movement.com/john.birke

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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