This week’s market update!

 

happy Friday Brian Manning here let’s
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get right to it but before we do I
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always get a lot of comments about my
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Maneki net though this little guy right
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here the kitty in the background go out
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like this this is my good luck kitty I
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got him in Hong Kong they have two
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different Maneki net goes one is good
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luck for family you know that was good
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luck for business and some in my office
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right now I have one good luck for
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business so it’s my Maneki nekkid a lot
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of people always ask about Monday this
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week quiet news they really not much to
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talk about there Tuesday we get Builder
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sentiment through the NAHB that’s the
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National Association of Homebuilders
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this is a real-time feed on what
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builders are thinking right now this was
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up four points and the best reading
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since May of this year so really good to
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see builder confidence there Wednesday
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this weekend every Wednesday we get
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applications mortgage applications
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business specific so spill purchasing
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applications on a year-over-year basis
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are of nine percent so really great to
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see still a really strong solid purchase
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market we also got housing starts so
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this is all new construction housing
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starts across the nation housing starts
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were down four point seven percent
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actually this decrease was very much
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expected we had the storms in Florida
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and Texas because this reasons for the
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month of September so not shocked by
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seeing housing starts down here Thursday
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this week 30th anniversary of Black
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Monday his largest decrease of stock
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ever and 30th anniversary wonderful
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impact on stocks you never know is
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certainly ways on the mind investors to
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see what kind of decrease we could knock
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out Friday this week right now stocks
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are up bonds are down mortgage rates are
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being affected by this the reason why is
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because the Senate passed their their
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budget last night but the way they
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passed it was in a way to lead into tax
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reform in the near future stumps are
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happy about this companies could
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potentially profit through tax reform
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and because that’s Doc’s Roe bonds were
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down in mourning great spreading furnace
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also today we got existing home sales
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existing home sales
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what’s up seven tenths of a percent
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better than expectations not as great as
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it could be but again from the storms in
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September and October that’s gonna have
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an impact on existing home sales as well
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so I’m still really good to see a
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stronger
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yeah the weird thing about today’s
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report is that first-time homebuyer is
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that we’re creeping their way really up
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to like 33% has dropped down now the 29
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percent of all person transactions I’m
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not sure why just something for us to
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keep an eye on and watch closely if this
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is a pattern that we start to see over
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the next 3 4 5 months it’s something
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that we really want to pay close
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attention to it could have an impact on
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the overall housing market because
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first-time homebuyers make up such a
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large percentage of purchases I also
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have a underwriting class coming up the
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details are in this email to see credit
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hours if you want to come learn more
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about this entire process underwriting
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ins and outs of different programs we’d
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love to have you come on out how to
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Friday I’m around all weekend if you
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have any questions let me know love to
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help you any way Ken have a great day
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[Music]




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.