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