Channing Lester- Mortgage Loans - Barrett Financial Group

07/08/2022

The Bureau of Labor Statistics (BLS) reported that were 372,000 jobs created in June, which was stronger than expectations of 250,000. There was a -74,000 revision to April and May, which tempers the optimism slightly. While the headline looked strong, the household survey told a different picture.....

07/01/2022

Existing Home Sales, which measure closings on existing homes, showed that sales were down 3.4% in May at a 5.41M annualized pace. This likely measured activity in March and April, including much of the rise in rates, but not all of it. On a year over year basis, sales are down 8.6%, which is still....

06/14/2022

The Q2 Zillow and Pulsenomics Home Price Expectations Survey, which is something that we take part in and is a survey of the top 100 to 150 economists in the US, showed some interesting forecasts on housing: Of the 114 economists surveyed this time, participants expect on average 4.8% appreciation p...

06/08/2022

05/05/2022

Housing Starts increased 0.3% in March at an annualized rate of 1.79M units. Year over year, Starts are now up 3.9%. Single family, which is most important, decreased by 1.7% are now down 4.4% from last year. Permits rose by 0.4% last month and are up 6.7% on a year over year basis. Single family pe...

05/03/2022

Pending Home Sales, which measures signed contracts on existing homes, fell 1.2% in March, which was stronger than the 1.8% decline expected. Sales are now down 8.2% year over year. There is no doubt that higher interest rates could be impacting demand, but this is still very strong considering the....

04/26/2022

The FHFA (Federal Housing Finance Agency) released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. While you can have a million-dollar home with a conforming loan amount, it’s typically measuring your lower priced homes. Prices r...

04/20/2022

Existing Home Sales, which measure closings on existing homes, showed that sales were down 2.7% in March at a 5.77M annualized pace. This likely measured activity in January and February, including some of the move higher in rates, but not all of it. On a year over year basis, sales are only down 4....

03/24/2022

Comparing the payments of both loans, the difference of $298 is a 28% increase from last year. But you cannot just look at the payment on it’s own – Incomes have increased by 6% since last year…but that’s all wage growth. Private sector wages have gone up by almost 10%, which is likely more ...