News

[ad_1] Stock up on all your hair needs with this Liter Sale at JCPenney! JCPenney is having tons of deals right now and you can get big Liter of hair products for as low as $16.19 when you use the promo code BFJULY at checkout! There are so many popular brands included in this sale like Matrix Biolage, CHI, Redken and more. Choose free in-store pickup to avoid shipping costs. [ad_2] Source link

[ad_1] real estate investors and affordable homes The June housing starts data beat estimates with positive revisions, however, this doesn’t change the housing market recession call that I made last month. Knowing that the housing cycle was at risk back in March of this year when the 10-year yield broke above 1.94%, I was mindful of when I was going to raise the fifth recession red flag. That happened in June after the May housing starts data came out.  The headline numbers on today’s housing starts data looks OK, but the reality is different. That reality can be seen more clearly by looking at the homebuilder’s sentiment index, which collapsed yesterday. I believe the builder’s survey data is the best in America when tied to economic expansions and recessions. Its quality is good because it’s driven by profit rather than ideological takes, which distinguishes it from other surveys. The smart thing to do is go with the builder sentiment trend until it reverses, and most likely, we will need to see lower mortgage rates for that to happen. From the National Association of Home Builders: Looking at the housing starts report, the numbers came in slightly better than anticipated, driven by multifamily construction. Also, the previous reports were revised higher. If mortgage rates were still below 4%, we would be discussing this report differently, but they aren’t, so the context of my discussion is more forward-looking with the recession red flag raised last month. From Census: Building Permits: Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,685,000. This is 0.6 percent below the revised May rate of 1,695,000, but is 1.4 percent above the June 2021 rate of 1,661,000. Single‐family authorizations in June were at a rate of 967,000; this is 8.0 percent below the revised May figure of 1,051,000. Authorizations of units in buildings with five units or more were at a rate of 666,000 in June. The housing permit data doesn’t look terrible. Still, it’s backward-looking and the growth in multifamily construction, which we desperately need to cool down rental inflation, has recently been positive. This is a plus for rental supply, however, single-family construction is about to cool down in response to higher rates. Housing Starts: Privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,559,000. This is 2.0 percent (±9.0 percent)* below the revised May estimate of 1,591,000 and is 6.3 percent (±10.2 percent)* below the June 2021 rate of 1,664,000.  Single‐family housing starts in June were at a rate of 982,000; this is 8.1 percent (±12.2 percent)* below the revised May figure of 1,068,000. The June rate for units in buildings with five units or more was 568,000. There’s a similar trend with the housing starts data: it doesn’t look terrible, but it’s also backward-looking. As you can see below, we never got back to the peak of the housing bubble years when single-family starts growth was driven by credit demand, which wasn’t sustainable. Since new home sales are still historically low and rental demand is still in place, we aren’t having the collapse in this data line as we did in 2006. However, it will get weaker in the upcoming months. With demand falling, the need for construction labor to build single-family homes will be an economic risk. Housing Completions: Privately‐owned housing completions in June were at a seasonally adjusted annual rate of 1,365,000. This is 4.6 percent (±11.7 percent)* below the revised May estimate of 1,431,000, but is 4.6 percent (±13.4 percent)* above the June 2021 rate of 1,305,000.  Single‐family housing completions in June were at a rate of 996,000; this is 4.1 percent (±11.1 percent)* below the revised May rate of 1,039,000. The June rate for units in buildings with five units or more was 366,000. The housing completion data has been the most frustrating data line we have dealt with for years. Some buyers had to wait forever before they could lock in their rate, meaning they didn’t qualify for their homes as rates moved up so fast. This was a risk to the homebuilders as cancelation rates started to increase and you can understand why their mood changed as rates went higher. New home sales are coming up next week, and the one key thing to remember here is that new home sales are currently low by historical standards. We never saw the credit sales boom as we did from 2002-2005, so the builders themselves are in a better position to manage their future. We won’t see a sales decline in scale terms as we had from 2005-2008 since we simply have never had that type of sales and credit demand. We are already below the 2000 recession levels and back to 1996 levels today. This is also similar to the purchase application data, since we never had a credit boom in housing as we saw from 2002-2005. This data line is already below 2008 levels currently. As you can see, the entire housing marketplace is much different from what we experienced in 2008.  To recap, the housing starts report wasn’t terrible, but it’s backward-looking. The slowdown in single-family construction is noticeable now that mortgage rates have risen. If mortgage rates fall, we might have a different conversation, but not yet, with the 10-year yield at 2.99%. Look for the builders to offer incentives for their products to ensure they sell their houses. I’m looking for single-family starts to slow down as demand for new homes stays soft. However, the more interesting aspect will be what happens with multifamily construction because the demand for rent has been solid. Higher mortgage rates will keep more renters in place, and rental deflation collapses aren’t the norm as most people are always working and needing shelter. However, we can all agree that the housing market materially changed in March once the 10-year yield broke over 1.94% with duration. Higher rates are just one variable here, but the real issue with housing has always been the

[ad_1] Need some new summer sandals? Check out this sale at JCPenney! Right now, JCPenney has select Women’s Sandals on sale for just $12.99! No promo code needed. There are several styles and colors to choose from. Choose free in-store pickup to avoid shipping costs. [ad_2] Source link

[ad_1] Adjusting to today’s market can be dizzying after the last few years of historically low interest rates and high refinance business. However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. We partnered with HousingWire to release a few excerpts from the report.   Notable trends in a new era of sales Millennials make up 44% of home purchases today. In a purchase-heavy market, understanding these consumers’ challenges and perspectives has never been more important.  Generational nuances. As a generation, millennials have been groomed to expect the “press button, get mortgage” experience, but they are also terrified to make a wrong move with the biggest financial decision of their lives. In a survey of over 3,000 NextGen homebuyers, we found that lack of education and distrust hit the top of their list of challenges, while a demand for personalized information was key to winning them over.  Education: In the most basic financial literacy quiz, only a quarter of Millennials could answer four out of five questions correctly. And one in four NextGen homebuyers stated that their biggest challenge while buying a home was a lack of understanding.  Distrust: Consumer trust has fallen across all sectors of business and government in the U.S. The 2022 Edelman Trust Barometer reported distrust is now society’s default emotion. Their research shows the U.S. Trust Index has declined 10 points since 2017, and the majority of Americans do not trust the central bank. In the 2021 NextGen homebuyer research, two in three stated they did not think lenders were trustworthy or reliable.  Blockchain and cryptocurrency. In an era of growing distrust, NextGen consumers are particularly attracted to a decentralized structure of currency and the potential for blockchain and crypto to increase the speed, safety, and ease through which they transact.  Despite its volatility, it is clear that digital currencies are the future and not a fad. According to Jim Park, executive chairman of The Mortgage Collaborative, who has stayed at the forefront of the growing technology in real estate, 12% of first-time homebuyers used some form of crypto towards their down payment last year.  Blockchain will create a lot more efficiency in all transactions, including real estate, said Park. For example, he explained that companies are converting real estate into NFTs and using a smart contract to close in a few days rather than weeks. They’re also using the metaverse to tour homes from across the world, and there are many other applications that will likely change the way consumers purchase real estate in the future.  “I think those are things that are going to force the industry to create more efficiency and some additional change, but also at the end of the day, it’s creating more transparency and more certainty to the consumers,” said Park. Innovations in technology. Last year, we wrote an article in HousingWire about the recent shift in technology trends, which is even more evident in today’s purchase market. While mortgage technology will always improve in optimizing time and costs, the innovation today is in consumer empowerment. The best lenders are utilizing technology to put the control in the hands of the consumer through transparency, digestible information, and personalized advice.  Dave Savage, co-founder and CEO of Mortgage Coach, recently presented at the Modern Mortgage Summit describing the history of mortgage technology over 36-years. Today, loan officers are not only having borrowers start the application with mobile devices and presenting a personalized, digital presentation, but they’re automating it with big data and predictive analytics. For millennials, this is the way they expect to be empowered through technology and mobile devices.  The Move to hybrid. Most consumers don’t care about meeting in-person anymore, but they do still care about human advice. The way to build trust and win more business with the largest segment of the purchase market is to empower them with personalized information through a hybrid experience.  The future isn’t human versus machine on home values. It’s when to use which, according to the CFPB Director from the MBA Secondary Conference.  “If I’m a customer, I don’t really care if you’re a broker, a loan officer, or I’m sitting in a call center… If I need you to help me, I’m going to want some human intervention at some point in the process because it’s too important a decision for me,” said veteran mortgage executive Bill Dallas. For more trends and strategies aggregated from more than 25 of the mortgage industry’s leading experts, see the full report.  This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the authors of this story:Dave Savage at dsavage@mortgagecoach.com Kristin Messerli at kmesserli@experience.com To contact the editor responsible for this story:Sarah Wheeler at sarah@hwmedia.com The post State of the mortgage industry half-time report appeared first on HousingWire. [ad_2] Source link

[ad_1] Grab Men’s and Boy’s Active Shorts for a great deal at Old Navy today! Today only, Old Navy is offering Men’s Active Shorts for just $12 and Boy’s Active Shorts and Pants for just $10! No promo code needed. There are several colors to choose from. Choose free in-store pickup to avoid shipping costs. [ad_2] Source link

[ad_1] Wow! This is a great deal on a bookcase! Target has some great deals on Room Essentials Bookcases! Get this Room Essentials 3 Shelf Bookcase for just $18.75 (regularly $25.99)! Choose from three colors. Get this Room Essentials 5 Shelf Bookcase for just $26.25 (regularly $35.99)! Get this Room Essentials 6 Cube Organizer Shelf for only $26.25 (regularly $35)! Get this Room Essentials 9 Cube Organizer Shelf for just $37.50 shipped (regularly $50)! Choose free in-store pickup to avoid shipping costs. [ad_2] Source link

[ad_1] Looking for a deal on a Christmas tree? We’ve rounded up a few of our favorites right now! You can get some great deals on Christmas Trees right now! Get this Partially Flocked Spruce Pencil Christmas Tree with Berries and Pine Cones for as low as $58.50 shipped when you use the promo code XMAS10 at checkout! Get this Premium Artificial Spruce Christmas Tree with Foldable Metal Base for as low as $80 shipped when you use the promo code XMAS10 at checkout! Get this Pre-Lit Hinged Douglas Artificial Christmas Tree with Stand for as low as $150.30 shipped when you use the promo code XMAS10 at checkout! Get this Pre-Lit Snow Flocked Artificial Pine Christmas Tree with Warm White Lights for as low as $140.40 shipped when you use the promo code XMAS10 at checkout! Valid through July 25, 2022. [ad_2] Source link

[ad_1] Post Politics Now: House poised to pass bill providing same-sex marriage protections  The Washington Post Members of House to vote on same-sex marriage, contraception  11Alive House will vote on marriage equality protection after Clarence Thomas opinion  Insider House to vote on Respect for Marriage Act in response to Clarence Thomas opinion  The Hill House to vote on same-sex marriage, abortion rights, contraceptive coverage over SCOTUS concerns  Fox News [ad_2]

[ad_1] Stock up on kid’s socks for the school year with this deal! Target is offering 25% off select kid’s clothing right now! No promo code needed. This is a great time to grab some socks for the school year. Get these Cat & Jack Girls’ 10pk Athletic Ankle Socks for just $5.24! Get these Cat & Jack Boys’ 10pk Athletic Crew Socks for just $5.24! Get these Cat & Jack Boys’ 10pk Low Cut Athletic Ankle Socks for just $5.24! Get these Cat & Jack Boys’ 10pk Athletic Ankle Socks for just $5.24! Get these Cat & Jack Girls’ 10pk Striped Low Cut Socks for just $5.24! Get these Cat & Jack Girls’ 10pk Turn Cuff Crew Socks for just $5.24! Choose free in-store pickup to avoid shipping costs. Thanks, Hip2Save! [ad_2] Source link

[ad_1] This Ticket to Ride New York Board Game is so much fun! Amazon has this Ticket to Ride New York Board Game for just $13.99 right now! This is such a great deal on this fun game. Sign up for a free trial of Amazon Prime to get free two-day shipping (and possibly one-day or same-day shipping!) with no minimum. If you’re not sure Prime is worth it, read this post for some helpful info to help you decide! And don’t forget you can sign up for Swagbucks to earn free gift cards to use on Amazon deals! Thanks, Hip2Save! [ad_2] Source link