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]