Like Many Housing Metrics, Builder Confidence is Just Waiting For Lower Rates
Historically low interest rates may not have guaranteed historically high levels of housing activity, but exceptionally high rates have definitely muted activity in a measurable way. We've cataloged this incessantly when it comes to refinance activity, but there's a correlation with home sales as well. The Housing Market Index (HMI) from the National Association of Homebuilders is just another way to see it. A de facto measurement of builder confidence/sentiment, the HMI had been flying high (all time highs, actually) shortly after the initial covid lockdowns. At the time, rates were at all-time lows and pent-up buying demand was being unleashed. Notably, that level of confidence was achieved despite housing starts only being about 2/3rds of their 2005 peak. Just as notab
Why Use John Minnis at MORE Realty
When it comes to real estate, whether you're buying or selling, the process can be overwhelming. That's why having a seasoned professional like John Minnis at MORE Realty by your side can make all the difference. With 15 years of experience under his belt, John has honed his skills to become an excellent negotiator and a tech-savvy agent who prioritizes customer service. **For Buyers:** Navigating the housing market can be daunting for buyers. John Minnis leverages his extensive experience to help you find the perfect home that meets your needs and budget. His excellent negotiation skills ensure that you get the best possible deal. Moreover, his tech-savvy approach means you’ll have access to the latest tools and resources, making the search process more efficient and less stressful. **For Sellers:** Selling a home is a significant financial transaction, and you want someone who can maximize your return. John’s 15 years in the industry have equipped him with a deep understanding of market trends and buyer behavior. He uses cutting-edge technology to market your home effectively, ensuring it reaches the right audience quickly. His commitment to answering his phone means you're never left in the dark about your property's status. **New Construction:** If you're considering new construction, John Minnis is also an invaluable resource. New builds come with their own set of challenges and opportunities. John's expertise allows him to guide you through the complexities of building codes, contractor negotiations, and customization options. His ability to communicate clearly and promptly ensures that your project stays on track from start to finish. In an industry where customer service often takes a backseat, John Minnis stands out by always being available for his clients. He answers his phone promptly and provides personalized attention to each client’s unique needs. This level of dedication not only builds trust but also ensures a smooth and successful real estate transaction. Choosing John Minnis at MORE Realty means choosing a partner who is committed to your success, whether you're buying, selling, or building anew. With his blend of experience, negotiation prowess, technological know-how, and exceptional customer service, you can be confident that you're in capable hands.
Mortgage Rates End Higher, But Not As High as This Morning
Uneventful Conclusion to Another Volatile Week This morning began like many other recent mornings with economic data making a strong, logical case for bonds to move in a certain direction only for bonds to subsequently reverse course and do something else. In today's case, it was Retail Sales that pushed yields higher at first. Perhaps it was also Retail Sales that allowed for a friendly correction as traders digested the report's internal components (which weren't as favorable as the headline). Either way, bonds were able to get all the way back to positive territory by the afternoon. That's good in and of itself, but with 10yr y
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