Mortgage news bullet points:
- Americans' confidence in the housing market reached an all-time high in April's Fannie Mae Home Purchase Sentiment Index. The share of Americans who say now is a good time to sell also hit a record high, so more listings should come to market.
- Rates have moved little, which Freddie Mac's chief economist put to "a tight labor market, solid economic growth and restrained inflation." He added, "the demand for purchase credit remains rock solid, which should set us up for another robust summer home sales season."
- Even as rates increase, First American's chief economist observes, we are still "well below the historical average of about 8% for a 30-year, fixed-rate mortgage--and house-buying power remains strong."
- Last week's lower than expected CPI inflation calmed fears the Fed would get too aggressive about rate hikes come their June 13th
- Corporate earnings rose an average of nearly 25% in Q1, funding bonuses and wage gains for employees. Small wonder May's preliminary Michigan Consumer Sentiment matched April's level, remaining at a 14-year high.
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Business tip of the week:
- Being a good listener is key to your success. Listening shows you care, makes it possible to understand what the client’s true needs/wants are and then helps you frame how you can provide a solution. Sometimes, clients simply need to convince themselves. In those cases, you just need to listen and validate what they're saying.
Quote of the week:
- "Nothing is impossible, the word itself says I’m possible!” Audrey Hepburn