Well isn't that just great for them...

Your Mortgage + Media Newsletter with JohnB

Author

John Birke
April 29, 2024

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

April 29th, 2024

Super League Money GIF by Anderson .Paak

Some of us are doing really well… if by “us” you mean builders and rich people.

So this week had good news for some and bad news for most…

  1. New construction is on the up

  2. along with high luxury home buying

  3. despite the fact that our savings accounts keep taking hits,

  4. all because inflation has been hitting our pockets harder lately

  5. and that seems to be getting mortgage rates comfy in the mid 7 range

Plus, a TikTok ban take

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 

👷‍♂️ Builders are feeling the love: New construction sales are in good shape and prices are up despite high rates all thanks to 2 things: incentives and inventory

New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says

Buyers are highly considering newly built homes amid a shortage of available homes in the U.S. Here's what this means and where prices are standing.

www.cnbc.com/2024/04/26/heres-why-new-home-sales-inch-higher-despite-7percent-mortgage-rates.html

🥂 And so are the richy riches: Luxury home prices are climbing at the highest rate in year as the well off flip the bird at high mortgage rates

Luxury real estate prices just hit an all-time record

Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.

www.cnbc.com/2024/04/22/luxury-real-estate-prices-hit-an-all-time-record.html

💲 But our savings account are feeling a bit less love: Saving rates have been dropping as inflation continues to do damage to affordability and dispensable income

Personal Saving Rate Falls to 3.2% in March

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March, up from a 0.3% increase in the prior month.

eyeonhousing.org/2024/04/personal-saving-rate-falls-to-3-2-in-march

 📈 And here’s the culprit: The new PCE rate shows that prices of our core expenses are climbing faster than expected

Key Fed inflation measure rose 2.8% in March from a year ago, more than expected

The core personal consumption expenditures price index was expected to increase 2.7% from a year ago in March, according to the Dow Jones consensus estimate.

www.cnbc.com/2024/04/26/pce-inflation-march-2024-key-fed-inflation-measure-rose-2point8percent.html

% Mortgage Rates: Are getting uncomfortably comfortable near that 7.5% range, and don’t seem to have much reason to head back south anytime soon

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: Now we look forward to jobs numbers to tell us how the economy is doing as a whole this month

U.S. Economic Calendar - MarketWatch

U.S. economic calendar consensus forecasts from MarketWatch.

www.marketwatch.com/economy-politics/calendar

 The Media Part 

Lets talk TikTok

As we reel from the officially-passed TikTok ban legislation, here’s my take on what comes next. I’ll sum it up in one word: lawsuits. Tons of them. They’ll involve free speech, states rights, national security, fear, technology, small-business rights, and a whole lot of other things.

So don’t expect this to be anywhere close to over! TikTok is still a crucial space for us creators to connect with our audience and deliver our value and expertise. Here’s my take from last week 👇

@johnbmortgage

🔥Market Update: April 22nd, 2024🔥 💰 We ain’t getting paid: Wage increases have slowed down despite our higher spending and sticky inflatio... See more

Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. It’s the best time of year! But you only have a couple days left to think of the perfect Facebook post to use with everyone’s favorite meme. So if April has you down in the dumps with shitty market updates from an idiot that thinks he’s funny don’t worry, thinks could get better! The rain is over now and flowers are here today, goodbye salty April ‘cause in 40 short hours…

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

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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