This week – The Equifax Security Breach and how to keep yourself safe. Also, rent is increasing rapidly nationally, and even more locally — and rates are starting to go up. This is a great time for First Time Home Buyers to consider purchasing a home!

Questions about how to freeze your credit? Ready to see how much you can afford before rent goes up even more?

Give me a call at 954-260-0601 or email me at bmanning@guildmortgage.net.

Transcription

happy Friday Brian Manning back again
00:04
with you wait for the update let’s get
00:05
right to it so the first thing I want to
00:07
talking about today is just Equifax and
00:09
their data breach so one thing I highly
00:11
recommend is going on to their website
00:13
putting information and seeing if you
00:15
were affected
00:16
unfortunately supposedly I was impacted
00:18
by this which led me to another topic I
00:21
want to talk about real quick which is
00:22
just credit freezes my recommendation is
00:25
for everyone to go to each individual
00:27
credit a credit bureau that’s TransUnion
00:30
Equifax and Experian and freeze your
00:32
credit report it’s free takes a little
00:35
bit of time to do it not a big deal
00:36
TransUnion and Experian or it really
00:38
easy to get done probably because the
00:40
Equifax is data breaches they’re a
00:41
little slow in this process but what it
00:43
means is if you freeze your credit
00:44
report that no one can access your
00:46
credit when they try and run your credit
00:48
it pulls up with just blank information
00:50
and it prevents any kind of identity
00:52
theft from going through or people
00:54
taking out credit that’s unwanted that
00:56
you didn’t approve so something to think
00:58
about what you will have to do if you
01:00
ever wanna use your credit the future is
01:01
you can either unlock for a temporary
01:03
amount of time or permanently unlock it
01:05
slightly and new since I understand that
01:07
but in the world that we live in with
01:08
potential identity theft I’d highly
01:09
recommend it so take a look at credit
01:11
freezes if you have any questions on
01:12
doing this call me I could walk you
01:13
through the steps market updates so
01:15
Monday stocks really rallied on Monday
01:18
most of it was from Hurricane Emma the
01:20
impact on her MO was less than expected
01:22
which ultimately means that insurance
01:23
companies were going to pay out less
01:24
than they expected so stocks are on the
01:27
rally there Tuesday this week we started
01:29
to get some housing is so we got core
01:31
logic and giving us feedback on national
01:33
delinquencies and really seriously
01:35
Bootsy so four core logic that’s anyone
01:37
that’s more than 60 days late on their
01:39
credit report so right now in a
01:40
national-level year basis last month
01:43
that was 2% so 2% of all people with
01:45
mortgages in the u.s. work more than 60
01:47
days late now it’s down to one point
01:48
nine percent so still great strong
01:50
housing market data every Wednesday of
01:53
the week we have mortgage applications
01:54
this looks at how many applications were
01:56
taken throughout the prior week and
01:57
year-over-year purchase mortgage
02:00
applications are still up 7% so a still
02:03
strong housing market through all the
02:04
data we’re seeing then Thursday
02:06
important report we get CPI so this is
02:08
the Consumer Price Index this measures
02:11
inflation for us as consumers we talk
02:13
this every month there’s two reports
02:15
this is the one that we more
02:16
highly-placed wait on because the CPI is
02:19
inclusive for us as consumers of
02:22
out-of-pocket health care expenses and
02:24
rents or housing with the Federal
02:26
Reserve what the Federal Reserve looks
02:28
at is PCE it’s different it doesn’t take
02:30
that into account so headline number for
02:33
PC CPI was from went up from one point
02:36
seven percent 21.9% most of this has to
02:38
do with a fuel so if you look at the
02:41
core rate that strips out the volatile
02:43
fuel and food quarry it was stable at
02:46
one point seven percent so month over
02:48
month basis we really didn’t see any
02:50
change in inflation there also got some
02:52
information on housing rents nationwide
02:55
housing rents are up four percent
02:56
year-over-year some for first-time
02:59
homebuyers to consider
03:00
according to red monkey in Boulder over
03:03
the last six months 1-bedroom rents are
03:05
up 8.1% and two-bedroom rents are up
03:08
nine percent so seeing a strong rental
03:11
marque here not so great for first-time
03:13
homebuyers but something to consider
03:14
it’s to get you out of there and to buy
03:15
a house in Denver which since you’re
03:17
saying is also according to rent monkeys
03:19
at one bedrooms over the last six months
03:21
were up 7/10 of a percent and two
03:23
bedrooms are up one point four percent
03:24
so maybe a little bit softening in the
03:26
rental market that overall this week the
03:29
yield on this hedge ten year Treasury
03:30
has been steadily increasing what does
03:32
that mean that just means mortgage rates
03:33
are going up so this week alone compared
03:36
to last week we’re seeing rates anywhere
03:38
from an eighth to a quarter percent
03:39
higher based on the loan program that
03:41
you’re looking at so certainly see a
03:43
little bit increase in rates there I’m
03:45
around all weekend I would love to help
03:46
you with your business if you have any
03:48
clients have any questions if you have
03:49
any questions please give me a call
03:50
mornings evenings weekends it doesn’t
03:52
matter I’m available love to help you
03:54
have a great day happy Friday

 

 

 





Brian Manning is a licensed Loan Officer in Colorado for Guild Mortgage Company; Regulated by the CO Division of Real Estate. Licensed in the states of Colorado and Florida, NMLS #324952. The postings on this blog don't necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. This information is not guaranteed to be accurate and shall not be construed as a guarantee of loan approval. All loans are subject to underwriter approval, and are subject to change without notice.