Friday Market Update: Week of August 8th

Happy Friday, Brian Manning here with the weekly update, let’s get right to it.

I can’t believe another month has already gone by and it’s jobs week, so Wednesday of this week and the first Wednesday of every month, we get ADP, so ADP is a large provider of private payrolls and they give us a report every month of new jobs created, these are not government jobs, these are private jobs and the expectation for the month of July was at 1.2 million jobs would have been created and ADP said “Oops! Only 167,000 new jobs were created”. But they revised the month of June. In the month of June they had originally reported that 2.4 million jobs were created which was a BlockBuster report and they said, “Oh! We messed that up”. It was actually 4.3 million people that had new employment in the month of June that were in the private payroll sector. No idea how you miss almost 2 million people but, but they did…..

Thursday this week and every Thursday we get unemployment filings. So we had 1.2 million new unemployment claims that were filed in the United States and then we also got some feedback from the Federal Reserve which is really interesting and something we’re going to have to watch. The Federal Reserve currently has an inflation target at 2% and what that means is as the personal consumption expenditure and they look at the quarter rate, so the quarter rate strips out volatile items such as food and energy, so when that PCE rate approaches 2% that’s when the Federal Reserve will start to raise their rates. Well, the Federal Reserve is talking about taking that benchmark and changing it from 2% to 2.5%. So that means that they would not look at raising the Fed Funds rate until the inflation target on the personal consumption expenditure hit 2.5%. Well, don’t forget, although not important at this present moment in time, inflation is the enemy of bonds and inflation is the enemy of interest rates. So as you start to see inflation go higher and higher and higher and the Federal Reserve not doing anything about it, that means that mortgage rates would rise. That is not the case right now, we’re in an incredibly low rate environment but if they do make this change in the future, when rates do start to move higher that will certainly propel mortgage rates to move even higher because that cap would not be in place at 2%. So we’ll have to watch this and kind of keep an eye on it.

And then today, first Friday of the month, we get the BLS, that’s the Bureau of Labor Statistics. This is the government’s report on what’s happening with employment, unemployment so they said that for the month of July 1.8 million jobs were created and unemployment was down, at a number now, at 10.2% but it’s not fully accurate and here’s why. First of all they have a 1% miscalculation into there and the miscalculation covers a bunch of different things. Also, there are 7.7 million people not counted right now that are either not part of the labor or participation force or not looking for a job. These might be people that don’t want to go back to work because they’re worried about COVID or they can’t go back to work because they’re in the music industry or they’re in the food industry and their job is just not open yet, so 7.7 million people right now not factored into this. So if we actually took those 7.7 million people, factored them back in and factored back in that 1% miscalculation, the true number for unemployment right now would probably be around 15.3% which is still unprecedented numbers.

I’m around all weekend, if you have any questions – let me know. If you have any buyers that need to get pre-approved, call me. Call me on my cellphones or text me, that’s always the best way to get a hold of me over the weekend. Happy Friday, hope you have a great day, we’ll talk with you soon.

We’ll Say It; The World is Weird Right Now

With COVID-19 taking over 2020,  it’s safe to say that things are a little different around here right now. Our quarterly-held Buyers & Brews have been put on hold, Fall Fiesta 2020 is doing its absolute best to be a possibility, and with social distancing protocols, almost all of our closings have been taking place virtually. We certainly miss interacting with you all face-to-face and greatly look forward to the day that we can all safely come together again!

In the meantime, we wanted to let you all know that though things may look different this year, we are still here to support you every step of the way along your home buying or refinance journey. Things may be weird right now, but hopefully we can get through them together, & perhaps with a much-needed laugh or two.


The Brian Manning Team

Our 5th Annual Fall Fiesta was a Success!

Thanks to your continued support, trust, and referrals we have officially outgrown our usual venue. This year we imagined The Brian Manning Team Client & Friends Appreciation Party with a new location and a new organization with our donations!


Conscious Alliance partners with healthy food makers to secure large-scale donations, they host food drives at concerts and music festivals, and they empower people to get involved by dropping philanthropic opportunities smack in the middle of a good time.

That’s where our Fall Fiesta came in.


It was our pleasure thanking you for your support with a special night out at one of Boulder’s very best restaurants, Arcana. The festivities included all you can eat and drink on Brian, and a good time in the name of ending hunger!

  • Thursday, November 14th
  • 5:00 PM – 9:00 PM 
  • 909 Walnut Street, Boulder
  • Food  //  Drinks  //  Photo Booth  //  Prize Wheel // Music

Buyers & Brews – Learn About Buying a Home in Colorado as a First-time Homebuyer

What is Buyers and Brews and What Will You’ll Learn?

Complimentary beer, free pizza, wine and salad & to learn more about buying a home in Colorado.

We will teach you a multitude of ways to qualify to purchase a home in Colorado with as little as 0% down with no PMI, describe different loan programs for both purchases and re-finances and we’ll explain our Colorado Home Buyers Advantage Program that gets you up to a $2,500 closing credit! We’ll also answer questions like:

  • How do I know if I qualify for a mortgage in Colorado?
  • How much do I really need for a down payment?
  • How far in advance should I be preparing to buy a house?
  • What happens after my offer is accepted?
  • What if I have poor credit?
  • And more…

There are a lot of moving parts in every real estate transaction. If you have any questions or curiosities about the process of getting a home loan, these events are for YOU! These events are open to anyone interested in homeownership in Colorado: first-time homebuyers, anyone who has not owned a home recently, and folks relocating to Colorado. Come learn some new things about buying a home in Colorado, meet some people, drink some beer, and eat some pizza. We want to answer your questions & leave you feeling more prepared and empowered to make informed Real Estate decisions.

Our last Quarterly-held Buyers & Brews was at Backcountry Pizza & Tap House on Thursday, September 12 at 6:00 PM. Due to COVID-19 we are currently not holding any in-person events. We’re looking forward to the opportunity to be able to hold in-person events like our favorite Buyers & Brews, sometime soon! Stay tuned for updates.


What Do You Do With Leftover Pies? DONATE THEM!

Welp, not everyone came to pick up their FREE 4th of July Pie (crazy, right?!) Instead of letting them go to waste our amazing Loan Coordinator Glenn reached out to the Safehouse Progressive Alliance for Nonviolence in Boulder. Their 27 bed shelter facility is currently full and our giant pies will feed everyone!
SPAN is a human rights organization committed to ending violence against adults, youth and children through support, advocacy, education and community organizing.
SPAN is designed to provide shelter and advocacy for victims of interpersonal violence at a time when our community is experiencing higher domestic violence rates than national and state averages.
If you’d like to support @followSPAN visit http://bit.ly/SupportSPAN