And you thought we were in the clear 🤦‍♂️

This Week's Market Update with JohnB

Author

John Birke
September 18, 2023

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

🔥September 18th, 2023🔥

Ha Ha Smile GIF by The Tonight Show Starring Jimmy Fallon

Jerome Powell watching us try to figure out his next move 🙄 I’ll explain 👇

You see, we thought we might get to watch the Fed rates drop by the end of this year, then mortgage rates could ease up a bit too. But now we aren’t so sure…

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: New homes are slow to start, mortgage apps are late to the party, inflation is back on the scene with the Fed on its tail, cars are going nowhere fast, and (I hate to keep saying it) rates suck!

🏠 New Home Permits: Remain low as single family construction starts are down 18.4%. The Charlotte metro came in 5th nationally at over 11k starts, but down 13% YOY

Single-Family Permits Decline in July 2023 | Eye On Housing

Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877.

eyeonhousing.org/2023/09/single-family-permits-decline-in-july-2023

💲 Mortgage Slump: As rates rise again, new applications fall to lowest level in decades

Mortgage demand stalls at a level not seen since 1996

New applications are down 27% from their levels this time last year

www.cnbc.com/2023/09/13/mortgage-demand-stalls-at-a-level-not-seen-since-1996.html?__source=realestate%7cnews%7c&par=realestate

📈 Inflation Numbers: Consumer Price Index shows costs increased 3.7% over last year; more than we thought

August core inflation, rose 0.3%, hotter than expected

Stokes fears that Fed may keep rates higher for longer

www.cnbc.com/2023/09/13/cpi-inflation-report-august-2023-.html

🏦The Fed: Growing worry that the Reserve will keep rates elevated until spring as inflation battles continues

Poll: Most economists see Fed waiting until at least end of March before cutting rates

Reuters poll of Fedwatchers show 58 of 87 see Fed waiting through the winter season before cutting

www.forexlive.com/centralbank/poll-most-economists-see-fed-waiting-until-at-least-end-of-march-before-cutting-rates-20230912

✊ UAW on Strike: The first against all Big 3 automakers at the same time shuts down 3 plants, but it’s just getting started

Auto Workers Strike: U.A.W. Halts Work at 3 Plants in Contract Fight With Automakers

The targeted strike is the first to hit Detroit’s Big Three automakers all at once. President Biden sided with the workers, saying that corporate profits had not been shared fairly. G.M. and Ford warned the strikes were idling employees at other plants.

www.nytimes.com/live/2023/09/15/business/united-auto-workers-strike

% Mortgage Rates: Another rough week, with the 30 yr fixed averaging 7.29%

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: Fed interest rate meeting - no change expected this month, but what about the rest of 2023?

 The Media Part 

Social Media Training

Our #training this week is about branding and the importance of not just making a name for yourself, but making the right name. You want your ideal client and audience to connect with you and the value you bring. But you have to know yourself first.

Join us Tuesday at 10AM to dive deep into your personal branding and how to figure out who you are before you tell everyone else.

Social Media Tip of the Week

Be a Brand Boss: To go along with this week’s training, check out this article that details the elements of a successful brand and make some notes about your own brand journey

25 Essential Brand Book Elements To Complete Your Branding

If you want to know what elements should be a part of your brand book, then your search ends here. List of the 25 most important elements for your brandbook.

mapplinks.com/brand-book-elements-branding

In the News

Meeting of the Minds on AI: Zuck and Musk finally in the same room, along with the heads of Google, Microsoft and others, on Capitol Hill to discuss the future of generative AI, the risks it poses, and how it should be regulated.

Tech Leaders Meet With U.S. Senators to Discuss AI Regulation

As generative AI continues to evolve, the need for regulatory oversight also increases.

www.socialmediatoday.com/news/tech-leaders-meet-us-senators-discuss-ai-regulation/693619

In The RECC Room

Thursday was our big AI + Real Estate event with Sarah Hilton from The Lead Suite at Suffolk Punch in Charlotte. And It’s no exaggeration that it was epic! We talked about how generative AI can help us with social media, lead gen, sales funnels, even this crazy app that lets you talk to the camera without looking at it! Check out some of the pics here. If you didn’t make it that’s OK, we’re already working on the next one which we’ll announce soon!

In the meantime, here are a couple other resources we talked about:

KeywordsEverywhere pluggin- https://keywordseverywhere.com/

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

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

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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