Good morning to your successful July,
As we thought, July is proving most interesting. Why so? “Brexit” and the resulting and unexpected refinance opportunity, one not to be missed. If you hesitated, now is your second chance at success. Call today – don’t delay.
For the USA, we are doing quite well, and locally, the Bay Area is strong. Data from the past week gives insight and confirmation. Plus, with these new lower rates, there is every reason to be even better. Some quick stats:
Jobs: 50 % more new jobs created in June than expected. This even though the 25 – 54 age category, lags behind. Labor participation rate: It edged up, as the U-6 unemployment edged downwards. Both are hopeful, as jobs creation is much slower than the past 2 years, as is wage growth. And as true for government numbers, unemployment rate rose to 4.9 %.
Planned layoffs: Down according to the Challenger report. Wage growth: Improving to 2.6 %. Good news for home buyers, as this equates to more buying power – 10% more in home price. Question? Give a call.
Housing: Year-over-year appreciation, nationwide, is in high single digits. Homes still underwater, continues to drop. While the default rate in 10-plus year home old home equity lines of credit, bumps up to 4.5 %.
Interest rates: Down and down again. With instability and uncertainty worldwide, we remain the one safe haven. The result: Money is flowing into US treasuries, bonds, mortgages, and real estate.
Two big benefits: Rates will be at, or near, or even break record lows. More appreciation should follow. And second, this appreciation should cause even more homes to be listed for sale. Benefits all around.
Please call today and let’s get started. Please don’t delay.
Truly our free markets are adaptive and quick to respond to change. Our goal is to bring these dynamics to you, where it matters most – home ownership. You are important to us – being safe with a secure tomorrow.
Have questions, call today.