Mutual of Omaha Mortgage TPO

On this Veterans Day, we honor and thank all those who have served and sacrificed for our country. Your bravery and dedication have shaped our nation, and we are forever grateful. 🙏🎖️

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Home prices continue to hit record highs in many of the major indices, and they’re now on pace to deliver 6-8% appreciation in 2023. CoreLogic called prices “resilient” and Case-Shiller said the strength and breadth of their data gives them an “optimistic view about future results.”

Job growth was lower than expected in October, with the BLS reporting 150K new jobs versus the forecasted 180K. There were also big revisions lower to August and September, reducing job creations in those months by 101K. The Fed has been looking for signs of a softening labor market. Will this weaker data be enough for another rate hike pause at their December 13 meeting?

Private payrolls were weaker than forecasted in October with just 113,000 jobs created, while pay growth reached the slowest pace in 2 years. Almost all the growth came in service-providing industries, with goods-producing companies only adding 6,000 jobs. ADP noted that “while the labor market has slowed, it's still enough to support strong consumer spending.”

National home prices have risen for seven straight months, up 0.9% MoM in August 2023 to a new all-time high. Year-to-date, prices have now risen a non-seasonally adjusted 5.8%. Case-Shiller noted the report’s breadth and strength shows an “optimistic view of future results.”

The Fed’s favored inflation measure, annual Core PCE, fell to 3.7% for the 12 months ending in September. While this is a 2-year low, it’s still well above the Fed’s 2% inflation target. Will this progress be enough for the Fed to pause rate hikes once again at their Nov. 1 meeting?

Navigating the complexities of compliance can be overwhelming. That's why we offer unwavering compliance support. 👍 Our team is well-versed in industry regulations and will guide you every step of the way. Trust in our expertise, and let us ensure that your mortgage business remains compliant, allowing you to focus on what you do best. 🙌

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⏰ Don't let time slip away! ⏰ Remember to set your clocks back tonight as we bid farewell to Daylight Saving Time. Enjoy that extra hour of sleep and the cozy, longer evenings ahead. 🌙✨



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5.0 star review received on Experience.com for John Mertz by Morgan - John was available to help me every step of the way!

New ★★★★★ 5 Star Experience.com Review by Morgan Click to see all 8 reviews of John Mertz, Account Executive

🎃👻 Wishing you a spook-tacular Halloween filled with tricks, treats, and all things sweet! 🍬🕷️ Let the ghostly adventures begin! 👀🌙



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Pending home sales (signed contracts) unexpectedly perked up in September, though they remain at historically low levels due in part to mortgage rates near 20-year highs. Tight inventory is also a factor, and the NAR notes that increased supply is crucial to “get the overall housing market moving.”

On this National Day of the Deployed, we honor the brave men and women who serve our country far from home. 🌟 Your sacrifice and dedication inspire us all. Thank you for your service and commitment to a safer world. 🙏🗽



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Experience a new standard of excellence with our superior underwriting quality and proactive Account Manager communication. 🤝

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September brought a big rebound in signed contracts on new homes, as the lack of existing homes for sale pushed New Home Sales to their highest level in a year. Yet, the months’ supply of available homes has declined over the same period, and more completed homes are needed to meet demand.

4.88 star review received on Experience.com for John Mertz by Kray - John is great to work with and helpful. In general, I'd like to see things less manual getting the initial disclosure out & the closing package balanced. Good overall though.

New ★★★★★ 4.88 Star Experience.com Review by Kray Click to see all 7 reviews of John Mertz, Account Executive

5.0 star review received on Experience.com for John Mertz by Scott - Decent process for our first closing....Thank you, Team!

New ★★★★★ 5 Star Experience.com Review by Scott Click to see all 6 reviews of John Mertz, Account Executive

5.0 star review received on Experience.com for Wes McGaffin by Morgan - Clear to close on a DPA product 19 days from initial submission is AMAZING. Great work folks :)

New ★★★★★ 5 Star Experience.com Review by Morgan Click to see all 2 reviews of Wes McGaffin, Account Executive

With 10-yr treasury yields at 4.86%, the 30-year mortgage rate should be around 7% (instead of almost 8% today). But thanks to Fed-induced uncertainty and a sharply inverted yield curve, the "spread" between 30-yr mortgage rates and 10-year treasury yields is today 1% wider than it was in 2007.

Housing Starts rebounded in September after reaching 2-year lows in August. Yet Building Permits (a sign of future construction) declined, and builder confidence continues to fall amidst higher rates and less buyer traffic. Will construction falter this fall?

Home builder confidence fell for the third straight month, reaching the lowest level since January, as elevated mortgage rates have curbed buyer traffic. But there was a glimmer of good news for buyers - 32% of builders reported cutting prices, matching last month for the largest percentage since Dec.

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Mutual of Omaha's Wild Kingdom Protecting the Wild Discover Mutual of Omaha's Wild Kingdom Protecting the Wild, inspiring the next generation of conservationists. Learn about the new show and where to watch.

5.0 star review received on Experience.com for John Mertz by John - everybody is very helpful throughout the process and getting the loan to the closing table. I am very pleased with working with John and the team.

New ★★★★★ 5 Star Experience.com Review by John Click to see all 5 reviews of John Mertz, Account Executive

Choose what works best for you and take control of your workflow. 🙌



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While inflation was hotter than expected last month, annual Core CPI (which removes food and energy prices) reached a 2-year low of 4.1% - well below the 2022 peak of 6.6%. The Fed is looking for signs that its rate hikes are curbing inflation. Will this be enough progress for another pause at their Nov. 1 meeting?

The MBS Highway National Housing Index fell to 35 in Oct 2023 from 42 in Sep 2023. One year ago, the index was at 18. Buyer activity continued to slow as mortgage rates moved above 7.5%, but prices held up much better as competition for scarce inventory remained high. The Northeast and Mid-Atlantic regions remained the busiest, the Northwest and Southwest the slowest.

Job growth was much stronger than expected in September, with the BLS reporting 336K new jobs, nearly double the forecasted amount. Over the last few months, revisions to prior months' data have been negative and large. That reversed course in September, with the BLS adding back 119K jobs. With the Fed looking for signs of a softening labor market, this strong data raises the risk of another rate hike at the Fed's Nov 1 meeting.

September showed the slowest pace of private sector job growth since January 2021, with large businesses driving the way. Annual pay growth for both job-stayers and job-changers slowed as well. The Fed is looking for clear signs that the job market is softening as they consider further rate hikes. All eyes on the big BLS jobs report Friday.

We value the relationship you've built with your borrowers. When servicing inquiries or payoff triggers arise, we refer them back to you. 🤝 Stay connected with your clients and maintain the trust you've established. We prioritize your business and support your long-term success.



+1 614-581-9276
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