Sunday, June 26, 2022

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Ep. 182 | More Flips But Less Bips In Q1

Ep. 182 | More Flips But Less Bips In Q1

SUMMARY: There were more housing flips in Q1 but those flipping saw their profit margins fall to the lowest level in 13 years, mortgage rates continue their climb, and the labor market remains tight but are job offers being rescinded a sign it is beginning to loosen up...Sources: Home Flipping...

Jobless Claims Jump to 286K

Jobless Claims Fall As Labor Market Remains Tight…For Now

Initial jobless claims fell, but not as much as expected, according to the Department of Labor...(Reuters) Initial claims for state unemployment benefits fell 2,000 to a seasonally adjusted 229,000 for the week ended June 18. Economists polled by Reuters had forecast 227,000 applications for the latest week. Claims have been...

Mortgage Rates Jump To 22-Month High

Mortgages Move Closer to 6%

Mortgage rates continued their climb, albeit at a slower pace compared to last week, according to the Freddie Mac weekly survey...(Freddie Mac) 30-YR FIXED: The average rate was up 4 basis points to 5.81% for the week ending June 23rd, this is 279 basis points higher than the same time...

Homebuilder Confidence Dips To Start The Year

Home Flipping Grows But Is Less Profitable in Q1

https://www.youtube.com/watch?v=EesxtubvFrY&t=6s Home flipping got a lot more popular in the first quarter of 2022 but also was a lot less profitable, according to ATTOM's U.S. Home Flipping Report...(ATTOM) In total, 114,706 homes were flipped in the first quarter of 2022, representing 9.6% of all home sales. This was up from...

Ep. 181 | Purchase Demand is Holding Strong

Ep. 181 | Purchase Demand is Holding Strong

SUMMARY: Despite skyrocketing rates demand to purchase a home was up for the second week in a row and is now only down 10% from one year ago but the bad news, according to Redfin, is purchasing power for wannabe be homeowners has been greatly diminished... Sources: Mortgage Demand Up For 2nd...

Mortgage Demand Up For 2nd Week

Mortgage demand was up for the second week in a row, according to the Mortgage Bankers Association...(MBA) PURCHASES: The Purchase Index was up 8% for the week and is now down only 10% from the same time one year ago. REFIS: The Refinance Index fell 3% for the week and...

Ep. 180 | Housing Shortage Isn’t Just for Buyers

Ep. 180 | Housing Shortage Isn’t Just for Buyers

SUMMARY: Existing-home sales fall in May but not as much as expected, the median home price hits another record, and rent growth hits 14% after a year-over-year increase for the 13th month straight...Sources: Existing-Home Sales Fall Less Than Expected in MayRent Growth Streak Hits 13th Months

WINFREE & GRESZLER: Apprenticeships, Not College, Can Help Reduce Unemployment

Paul Winfree and Rachel Greszler writes in the Wall Street Journal that a flexible, industry-driven alternative for workforce education has a proven record of success...(Wall Street Journal) Employers are addressing gaps by investing in practical workforce education. When Mazda Toyota Manufacturing established a plant in Huntsville, Ala., the company educated...

Single-Family Rent Continues To SkyrocketS

Rent Growth Streak Hits 13th Months

Rent growth showed no sign of slowing in April, according to CoreLogic's Single-Family Rent Index...(CoreLogic) Y-O-Y: U.S. single-family rent growth continued its hot streak in April, with prices up by 14% year over year, up from 13.6% in March. Miami continues to lead the way with an astounding 40.8% year-over-year...

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