Unemployment Jumps | Mortgage Rates Plummet
ฝัง
- เผยแพร่เมื่อ 8 ก.ค. 2024
- Unemployment Jumps | Mortgage Rates Plummet
0:00 - Intro
2:50 - Mortgage Update
14:00 - Video: Powell will not Lower Rates
20:00 - Real-Estate Update
35:10 - Video: Renting is Brutal
44:20 - Recession & Liquidity Update
52:30 - Video: Payroll Data is Concerning
Data
1. fred.stlouisfed.org/series/UN...
2. www.mortgagenewsdaily.com/mor...
3. www.cmegroup.com/markets/inte...
4. static.icemortgagetechnology....
5. www.cnbc.com/video/2024/07/03...
6. www.cnbc.com/video/2024/06/21...
7. fiscaldata.treasury.gov/ameri....
8. www.mortgagenewsdaily.com/ - บันเทิง
![กินอาหาร ถูก vs แพง!! จานละ 500,000 vs จานละ 50!! [Ver. 2024]](http://i.ytimg.com/vi/FF_HppKg4vs/mqdefault.jpg)
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Back to school shopping will tell a lot about how the economy will end for the year. Christmas is going to be cancelled for a lot of people. We need to get back to what the meaning of Christmas is anyway and it’s NOT consumerism!
You think people are not going to g to spend on Xmas? Boy, you have another thing coming. I think this holiday season will see the last of people splurging
But America is built on consumerism. Do we ever ACTUALLY NEED half of the things we buy? No
Right before Home prices went up 30 to 50% in Minnesota....A small number of real estate companies came and bought everything up....and sat on it....We had a Gov that allowed for us to get bent over.
The companies and people that have money are trying to find places to put money where the dollar value doesn't drop as hard.
Real estate is like the last stand.
Since most of these companies operate on debt...
The higher the assets value vs income vs cost.
The better the odds of getting loans in the future to keep operating on debt.
Market insiders
My goodness the downward revision of jobs added in May from 272K to 218K. All that hullabaloo about the jobs added in May just boops right down the drain, and the same substantial revision was done for April. 111K jobs revised down in two months.
Additionally, unemployment doesn’t have the same factors as GFC. These days you can’t get unemployment payments if you are receiving severance. Back in the GFC you could get unemployment from the day after you were let go, and receive severance at the same time. There would be so many more people receiving unemployment if they played by the same rules. Millions more people probably. We had another round of layoffs at my company this week on Monday. I’m good, but there were some people that were let go that I’m completely surprised about. They will be getting severance for a certain amount of time so won’t be included in unemployment numbers until they run out of severance, if they haven’t found a job by then. Smells like recession to me.
People aren’t quite tightened their belts yet - people still spending on credit cards - many people spending their last dollar and hanging on paying their bills - when you start seeing friends moving back in with their parents you’ll know
And back in 08 in Florida you got unemployment for 52 weeks. Now it’s 12, of course unemployment will be low if you only get it for 12 weeks. Once people are off unemployment and they still don’t have a job it’s not reflected in the numbers and most people don’t finds jobs in 12 weeks.
This should be taught at the High School level.
Agree 👍🏽
Bonkers!! Happy to see you're out of the old studio (mold house) and into a new place!
550 ups jobs gone. 650 John Deere jobs gone In Davenport Iowa. Meat processing plants closed down in Iowa. Middle America is getting destroyed. This will affect the rest of America. It always does.
I spent $25 on a pizza for July 4th. No fireworks. I had to work
Never spent a dollar on 4th. Waste of $, at least for me; I know some people are really into lighting off their own though.
Hello my wife and I have been watching your channel for approximately 6 months. THANK YOU. We have been looking to buy a second home in Little River, Longs area South Carolina for 15 months. Price cuts are starting to show up a lot more. Continuing to HOLD but ready to pounce when the right deal comes along. Thanks again. I too love SHARKING from shore.
“Mortgage rates plummet”?
What plummet? I see rates still at 7% lol
Yeah unemployment moved .1%
I check navy federal almost every day. It hasn’t gone done. In fact it’s up .125 in the last week or two
@@michaeldwyer977
Yep.
If it’s anything, feds need to just skyrocket the rate to at least 10% and get this whole shit over with already lol
@@michaeldwyer977navy fed has high rates use a broker and compare rates.
@@michaeldwyer977I’m only going to use navy fed for military 1st choice or conventional at 5% no pmi. They did say they’re going to match so I advise if you can find a lender at lower rate compared the rate apples to apples and make your decision
Loved what you said about those who give you crap. You are a wealth of knowledge and for one have learned a lot just from watching several episodes. Keep educating the masses. Those who insult are just have to, to make themselves feel better about themselves. You're doing a great job.
Total respect your honesty I use to be a loan officer and I have heard a bunch of bs from others.
Travis, is there any benefit to paying down amortization schedule INSTEAD OF putting those funds toward down payment to reduce loan amount?
I ran a few scenarios but didn't see a difference over the long term except that lower DP means locking yourself into a bigger loan/higher payment. I assume then when you teach this you just mean going hard at the payments in addition to minimizing the loan amount, but would love some clarity.
Thanks for all your hard work brother!
🎉🎉🎉 ALWAYS BONKERS!!!!
Tons of love and respect, Carlos
Keep it rolling!
Thanks!
Thank you so much Ja! The support means a lot. I hope you enjoyed the video and got great value!
I hope they keep them up until it crashes. The only way it can work.
Shopping mortgage won’t effect your inquiry is 🧢..
if they pull your credit it will show..
Lost everything too Bro. 2008.
50 yo and back to sq. 1
I keep hearing to shop for the rate, I went ahead and applied for a pre approval letter with my last lender, with 2 other lenders and a broker. Of all those only one is on top of it with awesome communication and great service. And that was a lender. Didn’t hear back from one of them at all. Now I have a question and that is when do you shop the rate, is it after you make an offer on a house, because no one will give you a rate without an offer on a house. I’m really confused about the whole shop the rate. Also we have outstanding credit with no debt. Applying for a va loan. Also the market here in the inland empire in California is insane still. Most homes are selling in a week. Already lost on a offer I made with 10k over asking price.
Just get pre approved by one lender like navy fed or use a broker to find you a lender once you find a house and your offer get accepted and that’s when you shop for rates the broker have access to multiple lenders like UWM or rocket mortgage. Keep in mind rates keep changing every day except the weekend. During your home search ask the broker or lender what is the current rate every 0.5% change your purchasing power. Be aware most companies advertise low rates but also the fine print will show the purchasing discount points. Just make sure you understand and compare rates apples to apples.
Ok, 3 minutes of appreciating everyone...
Love that you made unity the priority over division. ❤ Have a great weekend!
I had 0 dollars to spend on fireworks this year it was sad
I would be very intersted in your School, your explanation skills are formidable
Double bubble, say that fast 10 times, LOL!!!😂
Economy is not great! Many legit honest economists believe we have been in a recession, verge of depression, for two years.
Correct. We never exited the 2022 recession. It's all LIES.
Except for the government spending propping up GDP we have been
Where is the spaceman!?!?
Mahalo 🤙🏽🌴🇺🇸
You're such a good dude man. Really appreciate you and your channel.
well yea... i see people burning money!
It's like lightning 5 dollar bills on fire.
Banking likeing Gov. Waste: thefts:
🧢
I have hope. A lot has changed since the last recession. I don’t think it’ll be anything like before.
“hope” is not a strategy, Christina.
To sum up your comment: “This time is different.”.
Just keep your head in the sand and you will be fine.
Sell high Buy higher
Hell why not pay down the rate then grab yo home IJS sounds like thats the way to do it
Nope, again you are wrong and don't read comments. So I guess you lied to people. We are currently in a depression. Have been for over a year. The recession was in 2022.
LOL I have been meaning to tell you. I see you and your comments and understand exactly what your saying about a depression. Thank you for commenting and I hope you have a great weekend.
@@realestatemindset Noted! Thanks for the reply. Stay safe.
He reads all of my comments....and in 2022, home values in my neighborhood was still on the rise...and people were paying....sooooo yeah
I’m in a good financial standing and spent 0 on fireworks. To hear ppl spend hundreds on fireworks in these economic uncertainty amazes me. Nevertheless, housing will continue to be expensive. I don’t think there will be a crash, contrary to the vultures on here. And if the prices do drop, I wouldn’t buy bc most will be out of a job.
House can be mostly 'relatively' expensive but cannot sustained overpriced forever. Everything has cycle. Buying a house today is like spending on Firework - a tempolary pride with long term regret.
Those who do not learn from the past are condemned to repeat it.