Colin Bowe Lending

08/15/2022

Call, text, email me your loan scenarios!

12/31/2021

09/03/2021

The Bureau of Labor Statistics (BLS) reported that were 235,000 jobs created in August, which was much weaker than the 750,000 EXPECTED! There were 134,000 in positive revisions to June and July combined, which makes this miss look slightly better. The Unemployment Rate decreased from 5.4% to 5.2%. The unemployment rate is derived from the household survey, which has its own job creation component. Within the household survey there were 509,000 job creations, while the labor force increased by 190,000. The number of unemployed people decreased by 318,000, causing the unemployment rate to fall by 0.2%. There was a misclassification error that would add another 0.3% to the unemployment rate, which was not counted. Meaning that the unemployment rate should have been around 5.5%. But remember how we have discussed those not counted who have not looked for work in the last 4 weeks. That totals 5.7 million people, who are not counted in the labor force or counted as unemployed. When the extra benefits expire Labor Day, some of those individuals are going to start looking for work again and will be counted. This could cause the unemployment rate to move higher until they find jobs. The u-6 all-in unemployment rate improved from 9.2% to 8.8%. Average hourly earnings were up 0.6% compared to the previous report and are up 4.3% year over year. Average weekly earnings, which we focus on more because it measures what people actually take home, were also up 0.6% month over month. Year over year weekly earnings is up 4.6%...but if we were to extrapolate the last few months on a year over year basis, which is more indicative of what we are seeing, it's closer to 7%. According to the last PCE report, private sector wages were up 1% last month and are on a 13% annualized pace.

08/23/2021

Never thought I would be so excited for a new school year to begin!

08/17/2021

Down payments are necessary when you're looking to buy a home (with the exemption of VA loans). So who can gift you the down payment?
✅ Your employer
✅ A close friend but they must state that you won't have to pay them back
✅ An organization that helps first-timers
The most important thing to keep in mind: the down payment must be traceable and explained to your lender. HAVE DOWN PAYMENT QUESTIONS? Send me a message!

08/03/2021

Closing costs fees are due at the closing of your real estate transaction. Some common closing costs include fees related to the origination and underwriting of a mortgage, real estate commissions, taxes, insurance, and record filing. This fee can range anywhere from 3-6% of the home's purchase price. I hope this helps!

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07/27/2021

Call me if you need financing! BOWE KNOWS! 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, the report most likely is representing lower prices homes, where supply is tightest, and demand is strongest. It should be no surprise that it is even stronger than the Case Shiller Report - Home prices rose 1.7% in May and are up 18% year over year, up from 15.7% in the previous report.

07/26/2021

Beautiful weekend at the beach with the family! Get out and enjoy Mother Nature with your loved ones! A little disconnect is good for all of us. Oh and one more thing, don’t listed to the weather forecast, lol. They’re usually wrong 😉. Listen to me for all your financing! Unlike the weatherman, I DO KNOW what I’m talking talking. Bowe knows… 😉

07/22/2021

Loan Sommelier at is again! Nothing better than lunch with your team! Red wine and empanadas! Delish!

07/22/2021

Contact me for the best refinancing rates available!!

07/20/2021

In housing news, Housing Starts were up 6.3% in June and 29% year over year. There was a negative revision to last month, and when taking that into account, the gain is really 4.5%. Single Family Starts, which is really most important for our industry, were also up 6.3%. Permits, which are a good forward-looking indicator, were down 5.1% in June, but are 23% higher year over year. Single Family Permits were down 6.3%. Homes authorized but not started are up almost 60% year over year and continues to climb, which shows us there are delays due to higher costs and labor issues. Single family units completed is down 6% last month and 3% year over year. This speaks to the fact that builders cant get appliances and it's delaying the completion process.