Communication is Key, Who Knew?

Mortgage Applications for last week rose 0.8% with purchases down 5% and refinances up 6.8%. Decent numbers. FHA applications also slightly increased following HUD’s announcement that the FHA’s insurance premiums would be lowered.

The NAHB Housing Market Index measuring Builder Confidence dropped from 69 to 67 after last month’s number was reported as the best reading in over 11 years. A drop was expected and 67 is still a very strong read—forget the media’s highlight of the pullback—as any figure above 50 signals expansion and is considered healthy.

Fed Chair Janet Yellen reported today their expectations to raise hikes “a few times” in this year with the economy “close” to the Fed’s objectives…but also claimed they have “eased back a bit” off the gas pedal, though their “foot is still pressing” on it. WHAT? The vagueness is clear and let’s not forget they’ve raised rates only twice in the last two years and last year they waited until the last possible month of the year to hike. It's looking like a wait-and-see game.

A survey found communication to be the top criteria real estate agents look for in loan officers. Not surprised. Communication makes for good relationships. Why was a survey even needed to back up this claim?

 (NMLS #381502)