Ep. 83 - August Lending Update: New Peaks, Old Troughs
Have you ever felt the rush of a once-in-a-lifetime opportunity slipping through your fingers?" We’re here to put your mind at ease! In this episode, we delve into the whirlwind of August lending updates, starting with the Florida Hometown Heroes program, an initiative that saw a staggering $100 Million evaporate in a mere 60 days! Daniel Halverson from the Bank of England joins us on the show to dissect the current market. Find out about what’s happening in the job market, what’s impacting inflation, and, of course, mortgage rates. We have a lot to cover, all designed to arm you as you enter the market.
Tune in to learn more about what you need to know to get ahead!
[00:01 - 08:17] Hometown Heroes Program: $100 Million gone in 60 days!
[08:18 - 13:01] Home prices reach a new peak despite inflation, interest rates, and market changes
[13:02 - 24:30] Stop trying to get the prices of 2010, as supply and demand dynamics keep home prices rising
[24:31 - 32:35] Is inflation really the problem for interest rates? Inflation decreases, but mortgage rates remain unchanged
[32:36 - 40:28] Unemployment at 3.5%, positive wage growth, but a job loss recession looms: Fed hawks are pushing for more rate hikes
[40:29 - 44:47] A final outlook on interest rates, inflation, and real estate
Resources Mentioned:
Quotes:
"Don't panic. There are still other opportunities." - Daniel Halverson
"For all of the things that happened last year, inflation goes up—interest rates go up, the market changes significantly, the doom and gloom, the naysayers, the housing market crash; and here we are now, home prices are at peaks." - Quinton Harris
"You need to change your mindset… and quit trying to evaluate a price point that doesn't exist anymore." - Quinton Harris
“Lenders, listen to this. Realtors, listen to this. As partners, you need to have a strategy in place for your buyer for what they need, whatever hot button, ‘how are we going to get them under contract?’” - Daniel Halverson
"The markets are also not entirely confident that we have conquered inflation, and that's being reflected in the pricing. They don't see a way to get from 4.8% on the core to 2% without people losing their jobs." - Daniel Halverson
"You don't need a job loss recession to get inflation to move lower. You just need more time." - Daniel Halverson
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