January 17, 2023
THE ECONOMY
- Demand for employment remained high in November as companies looked for workers to fill positions despite worries of a looming recession.
- Minutes from last month's Fed meeting showed officials were still focused on stamping out inflation but gave few clues about future rate hikes.
- A December reading of the manufacturing sector showed factory activity slowing down. The prices producers paid their suppliers fell.
HOUSING NEWS
- A large drop in mortgage applications last week made headlines. Higher rates were blamed, though apps typically fall some at year’s end.
- Cash-out refinances will cost consumers more in 2023 due to higher fees from the FHFA. Refis still make up almost one-third of mortgage apps.
- Beginning in March, Freddie Mac will require a first lien mortgage to be at least 12 months old before it can be paid off by a cash-out refinance.
THE LAST WORD
"Efficiency is doing things right; effectiveness is doing the right things." - Peter Drucker
Stay up to date on the latest real estate trends.
December 7, 2024
October 26, 2024
October 23, 2024
October 8, 2024
September 18, 2024
September 18, 2024
August 9, 2024
August 1, 2024
June 12, 2024
You’ve got questions and we can’t wait to answer them.