Fairway Fundy

I’d like to share a colleague’s good point with existing clients and homeowners. Rates are only STARTING to decrease- that means many lenders will be calling and begging you to refi. While everyone is excited that rates have turned the corner, they will continue dropping over the next year. Don’t get oversold and pull a quick trigger. If you’re pulling cashout for another goal that’s different. And if you’re looking to purchase this is different. But if you’re simply just trying to improve the rate and term of your loan please don’t jump the gun because of a website ad! I’ll be happy to show you your current options NOW even if you plan on waiting a year or two! Work with a lender that you trust and truly has your best interests at heart!

10 YEAR TREASURY NOTE UNDER 4%!
RATES ARE STARTING TO FALL BABY!

Andrew Hollenhorst (Citi Bank US Chief Economist):

“Small businesses are telling us that their hiring intentions are at the lowest levels that we’ve seen since 2016. And, if I look overall at the economy [including medium to large employers], the hiring rate right now is at the lowest rate it’s been at since 2014… the lowest hiring rate in a decade”

“CLEAR TO CLOSE” is the FAVORITE email subject line!
Miriam Pearson

1 down, 6 more to go this month 💪

Many of you were interested in Homebot the last time I posted and we had a bunch of new accounts made. This is FREE to you- Fairway covers the cost! If you don’t own a home yet, use Homebot to track home prices and other important info in your market. FREE sign up link below!

https://hmbt.co/wyjnMh

***I’m a little emotional on this one- I AM SO PROUD OF THESE TWO!***

*Be like Matthew Branham and Kara Branham! This is another example of when clients become family. These guys are super young with THREE kids and they just closed on their first home!! Matt came to me a year ago with questions on his credit and how to get qualified. He and Kara stayed motivated, stuck to our plan, brought up their credit scores, saved money and EARNED this house!

*Shoutout to Casey Funderburk and House of Krasnoff by Keller Williams for getting to the finish line (and putting in the miles 😜).

*Matt works in pest control and my added bonus was getting to know they’re rescued raccoon, their tortoise Larry, and all of the ridiculous pictures and videos from a day in his profession.

*Dont wait to START the process- even if you don’t think you’re ready yet. It’s not a question of IF you can buy a house it’s WHEN- and it all starts with a plan. Reach out to me to get started!

CONGRATS GUYS! I’ll see you at the housewarming party!!!

https://www.cbsnews.com/news/macys-closing-150-stores-locations/

Macy's to close 150 stores, or about 30% of its locations Under pressure from investors, Macy's is closing 150 underperforming stores as it leans into its Bloomingdale's and Bluemercury brands.

Inflation Inches Lower, Home Sales Surge Higher | Highway Inflation continues to move lower towards the Fed’s 2% target, while declining mortgage rates boosted signed contracts on new and existing homes in December.

Find out what your home is worth! Homebot is a service that WE pay for at Fairway so that YOU have it for free! Your information is not shared with anyone, I'm the only person that can view your entry. Homebot shows you home values, keeps you up to date on interest rates, mortgage market news, and so much more. Since we pay for it, PLEASE USE IT!

If you're anything like my other clients (and me) you will become obsessed!

Helping Homeowners Maximize their Wealth Homebot is a monthly financial dashboard that enables you to maximize the wealth from the single largest asset you will ever own.

2️⃣ open houses today! Come see us for one more hour until 4!

$750k in PLAZA MIDWOOD 🤩

11039 Stetler Drive

318 Henderson Street is BACK ON THE MARKET after buyer financing fell through!

Listed for only $229,900, you'll want to see this beautiful property built by our friends at Matthews Construction Company! that you need to see! Check it out here: https://property.fairwaymc.com/318-e-henderson-street-east-spencer-nc-28144

318 Henderson St, East Spencer, NC 28144
Listed by Andy Matthews (704-453-2650) Brokered by Realty Point

2 new contracts this weekend! The house is crazy with a two year old so I came to my favorite office 😜

Who’s next?!

Fed Chairman Jerome Powell’s speech yesterday showed that the Fed is now focusing on “when” to cut rates, not “if”. Before Powell’s speech yesterday the likelihood of a March rate cut was 38%. Now it is 84%. You can see the Fed is signaling that we are nearing their economic targets. Interest rates to the consumer already dropped over the last few days as a result of the comments

Data per MBS Highway
www.mbshighway.com

He was right about May…. 😂
Just the wrong year!

This is the recent trend for the 10 Year Treasury which is a good "bird's eye view" that correlates with interest rates. The FED is seeing the data that they've been looking for and rates are expecting to continue dropping. If you're interested in buying this year, do an application NOW! We can help put you in the best position possible, improve your credit, and get the best interest rate for when you're ready to buy (or refi!)

Rates are starting to come down- which means this spring market is going to get competitive for buyers! Don't sit and wait- work on your credit NOW! Contact me with questions on how to get signed up whether you're trying to get a basic approval or get a better interest rate when it's time. UQUAL has a special promotion now- reach out to me if interested

https://www.reuters.com/markets/us/feds-waller-increasingly-confident-policy-is-right-spot-2023-11-28/

With Fed likely done hiking rates, Waller flags pivot ahead Federal Reserve policymakers look increasingly comfortable closing out the year with U.S. interest rates on hold and the clock ticking on how soon to deliver a first rate cut as they try to engineer a "soft landing" for the economy.

Interest Rate watch- While Inflation is down from 9.3% last year to 3.2%, the Fed needs to see the squeeze of higher rates take effect and increasing unemployment rates prior to lowering interest rates. Today's JOLTS report is HUGE - (Job Openings and Labor Turnover Survey). There are two more jobs reports coming out this week - ADP report on Wednesday and BLS on Friday. If both fall in line with today's report then the Fed may have some very welcome news regarding interest rates at their next meeting Sept 22

Job Openings Drop to Lowest Level in Over Two Years The latest job openings and labor turnover summary (JOLTS) report showed that job openings dropped to their lowest level in over two years. Vacancies fell to 8.827 million in July, lower than the expected 9.465 million vacancies.

The 3rd largest trucking company in the US just filed for bankruptcy because of their inability to refinance debts with high interest rates. For the first time last Wednesday the Fed didn’t commit to another rate hike (although they didn’t commit to NOT raising just yet either). As we go further into recession the Fed will allow interest rates to decrease.

Inflation is almost at their target and cracks in the economy are pointing to recession.

WHEN RATES GO DOWN, FIRST TIME HOME BUYERS WILL NEED TENS OF THOUSANDS OF DOLLARS OVER ASKING PRICES TO GET A HOME AGAIN!!!!!

Get preapproved now and THEN decide to buy now or wait!

99-year old trucking company Yellow shuts down, putting 30,000 out of work | CNN Business Yellow Corp., a 99-year old trucking company that was once a dominant player in its field, halted operations Sunday and will lay off all 30,000 of its workers.

Happy 4th of July everyone. May you celebrate your independence now and always!

Where will you go after you sell your home?🏡

When thinking about where you'll go after you sell your house, consider the benefits of both newly built homes as well as existing ones. Consider your long-term goals and priorities when making a decision. Evaluating factors such as customization, maintenance requirements, and location can help guide your choice.

Save this for later! 📱

How is your credit score determined?

Five factors determine your credit score

1. Payment History - This shows how you've paid your bills on outstanding credit cards or loans over time.
2. Credit Utilization - The amount of your total credit used from the total credit available to you.
3. Length of Credit History - The length of time your credit or loan accounts have been established.
4. Credit mix - Having different types of credit such as car loans, credit cards, or a mortgage.
5. New Credit - Credit line or new loans you have recently applied to.

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📢Calling All Real Estate Professionals 📢

This is an event you do not want to miss! Join us for our event Build Your Marketing Plan. We are going to dive deep into building, planning, and growing your marketing and YOUR BRAND. Take advantage of this opportunity to plan out your marketing and social presence for the last 6 months of 2023!

When: Wednesday, June 21st
Time: 10:00 am - 12:00 pm
Where: U.S. National Whitewater Center

Spots are limited! Register here 👉 https://BuildYourMarketingPlan.eventbrite.com

Buying a home can feel challenging for many people in today's market 🏡

If you're interested in buying a home this year, consider these tips on how you can improve your chances of finding, and buying, the home that's right for you.

DM us today to learn more about achieving your homeownership goals!