June Real Estate & Mortgage Update: Will The FED Cut Rates Soon?
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Timestamps:
0:00 -June mortgage and real estate update
0:14 - Current mortgage rates and FED decisions
0:36 - Market reactions to FED data
1:19 - Approaching refinancing: taking money off the table
2:31 - Advice on refinancing and points
3:12 - Current state for buyers: rates and inventory
3:52 - Mispricing in the housing market
4:52 - Housing market trends and potential crashes
5:02 - Concerns about condos in Florida
5:34 - Conclusion: Inflation and future rate cuts
6:00 - Questions? Call me at 707-478-0637 or Book the Calendar!
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Does refinancing make sense? Grab a time and let us know where you are at and we will discuss if it makes sense. calendly.com/jennifer-beeston/refinance-questions
This woman is amazing!!
Intelligence! Beautiful! Lovely voice
Amazing
Thank you:)
No
Honestly, we need Trump rates
Jen, there are so many new listings hitting my market. You have so many clients and you have your finger on the pulse of the RE industry, what are you hearing as to why so many people want to sell in 2024?
I am not seeing a ton of listings hitting any area. What city and county are you in?
@@JenniferBeeston Sacramento, California
That’s interesting. I just looked at this. Listings are up but the market is still competitive. sacrealtor.org/may-2024-housing-statistics/ the listing are up but they still only have 1.5 months worth of inventory which is light.
Hello Jen! Ohio has a new program called Ohio Homebuyer Savings Plus offering a 5-year savings account with 6% interest (tax free) for future homebuyers. I am interested on your thoughts. I enjoy your videos, thank you!
A .25% cut in 2024 isn’t making any difference.
Are fees negotiable when refinancing in VA IRRRL” loans? I did it once but didn’t really pay attention to fees tacked on the the loan price being financed…… what is the usual fees, percentage wise, of the loan amount you see for refinancing….
We waive our lender fee on all VA loans but yes you should totally be watching out for lender fees and discount points.
😢 I had honestly hope for this to be a yes they will be cutting soon. I have an upcoming appointment with you guys and it would have been great to hear aome good news on the housing front. Inventory is not great here in Central PA right now unless you want something significantly overpriced, a major fixer-upper, or land.
I'm about at the point of needing to compromise and live in a trailer or some type of townhouse and unfortunately both of those aren't healthy options for me. Really crossing my fingers for some good news in the coming weeks and months.
If the FED is paying attention to election dates, they should all resign for incompetence. Actual inflation has not been an issue for quite a while now. The FED should have already started cuts, like the ECB.
FEDS won't cut rates this year...
Totally agree that this is groundhog day and unfortunately this will be the case for some times. The only point I would make is regarding the home prices and the comparable prices. My perspective is that the real estate industry trend for comparables using the 1 to 2 year look-back does not support the historical price trends due to the 2020-2022 bubble (+40% artificial price increase). To get a more realistic price you have to be looking at comparable from 2018 and 2019. This inflated pricing is so easy on sites like Zillow (home sales price history)
Hello! Random question not pertaining to the topic of this video! (Recently found your channel and love your content!)
I received a letter in the mail today regarding my “VA IRRRL enhancement program” talking about a reimbursement. We purchased our home in December of 2023 and wanted to know if you had any info on this or if it’s a scam?
That letter is a total scam. Do not call the lender that sent that to you. They are just trying to get you to refinance by baiting you with a fake reimbursement. If you have questions about refinancing and want to know if it actually makes sense just call me 707-478-0637. We will do the math and let you know if it makes sense or if you should just wait.
Bidenomic's broken back better. Enjoy your videos and thanks for your service. 🏳🇺🇸😎
It's way better than the Trump economy. Remember when Trump was in office, the economy was so bad that stimulus checks were needed.
BEESTON.....Sorry , flustered.
OK, I’m not sure what you’re flustered about. Was it the comparison to Groundhog Day, the absolute disappointment in the three rate cuts that never came? My call out to corporate greed?
@@JenniferBeeston You..............!
@JenniferBeeston Sorry , again but you will sell real estate in Heaven. And , no I'm no friutloop.
OK got it. Although I have to say that as a mortgage lender on earth, I hope in heaven, I will get to relax 🤩
@JenniferBeeston I've seen property covered by terrible things. As a Vet I can say that the road to satisfaction and happiness is property that makes you smile....
There is NO doubt the Fed will cut rates and it will be at the most politically opportune time for Biden, which will be the September Meeting. Recall Janet Yellen, Biden's Treasury Secretary was the previous head of the Federal Reserve. So expect great inflation numbers for the 3rd quarter, a rate cut, and a soaring stock market leading up to the election.
It will be interesting to see if it happens.
The Fed and the party in office ALWAYS paint a Rosie picture that there are no more rate hikes coming or the next move is a rate cut just before they…… continue to raise rates. A force in motion wants to continue in motion in the same direction and the momentum for the economy is…. DOWN and the momentum for rates is…. UP. And only a temporary shortage of homes in some markets is delaying the inevitable. Believe or not I am an eternal optimist, but I am also been thru 5 downturns.
When you look at the supply of houses overall in the nation versus how many buyers there are, we do not have enough houses. We have baby boomers who are never going to sell their homes because their interest rates are 3% and millennials, the largest generation since the boomers are in the market to buy. There have been lots of studies on this. This is a solid breakdown that is in depth. www.construction-physics.com/p/is-there-a-housing-shortage-or-not
Is Bob still smoking crack?
Yes, he increased the price of his home that has been on the market for two years as he feels the market is going up and the issue was he must have underpriced his home. His neighbors house sold for 5000k less then his is listed but he said it was because they had ugly carpet. His has nicer carpet.
"Ask you agent to find comps"... LOL. Just one of the many reasons we would NEVER use our last agent again -- "It's not my job to find comps. That's up to the appraiser.". Ugh.
yikes
In the movie, Phil stooped low enough to steal the groundhog and drive over the cliff into the quarry. The time loop didn't end until he stopped being selfish. We're doomed. Actually, I'm glad that buyer comfort with rates is getting better. The inventory crunch doesn't help to shift the balance between rates and prices in the buyer's favor though.
I think I may have to rewatch the movie. It was one of my favorites when I was young:)
@@JenniferBeeston Oh yeah, that movie is hilarious 😂
Here in NYC we have many coop buildings (1920-1960), but I never heard any assessment nightmares about them. Is this because they knew how to build back then? Or is it because maintenance is high enough to cover surprises ?
It is building by building and depends on the management. There are assessments in NY as well. Building by building