Mortgage Market Guide – Views You Can Use June 2017 Issue

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Mortgage Market Guide – Views You Can Use June 2017 Issue

IN THIS ISSUE…
“Working 9 to 5, what a way to make a living.” Dolly Parton. Strong job growth and improved Retail Sales in April could bode well for our economy in the second quarter. We’ll ring up this story and more, including:

Please feel free to forward this newsletter to friends, family or co-workers who may find it helpful.

Jobs and Retail Sales Spring Forward

After two sluggish months of Retail Sales, consumers ramped up their spending in April at auto dealers, hardware stores and e-commerce outlets. Retail Sales rose 0.4 percent from March to April, and March Retail Sales were revised upward to 0.1 percent from -0.3 percent originally reported.

Consumer spending makes up two-thirds of overall economic activity, and increases in retail spending are a welcome sign. The second reading on first quarter Gross Domestic Product (GDP) rose to 1.2 percent from 0.7 percent, slightly higher than expected. While that is still a low number, the Atlanta Fed is predicting second quarter GDP to rise to 4.1 percent.

April showed growth in job creation following a dismal March. The Bureau of Labor Statistics reported that 174,000 jobs were created, although this was below the 180,000 expected. March was revised lower to 50,000 new jobs, where the low numbers were due in part to harsh weather. The Unemployment Rate fell to 4.4 percent in April, the lowest level in 10 years.

In housing news, the National Association of REALTORS® reported April’s Existing Home Sales fell 2.3 from March, mainly due to low inventories of homes for sale. Existing home inventories are at a 4.2-month supply, well below the six months seen as normal. April’s New Home Sales fell to 569,000 units, below the expected 605,000 and the 642,000 sold in March, while year-over-year sales were up just 0.5 percent. The decline in new home sales were due in part to rising building material costs, not enough lots ready for building, and a shortage in labor supply. But new home inventories are running at a much healthier 5.7-month supply.

Home price gains remain strong. The March S&P/Case-Shiller 20-City Home Price Index rose 5.9 percent year over year from March 2016, matching the February reading. Gains are the biggest since July 2014. From February to March, prices were up 0.9 percent.

New construction certainly could provide much-needed relief from rising home prices and house-hunt frustrations. Read about what’s happened recently in What to Watch below.

If you have any questions about housing or refinancing opportunities, please reach me out at any time.

What to Watch: Housing Starts

Housing Starts are a key indicator of the overall health of the U.S. economy because they create a substantial “ripple effect” into other sectors.

What is the Housing Starts report? This report measures the number of residential single and multifamily units upon which construction is begun each month. In construction terms, a “start” is when the excavation of a new building’s foundation begins.

What’s happened recently? The Commerce Department reported Housing Starts decreased 2.6 percent from March to April. This marked the second straight month of declines and the lowest rate of Housing Starts since November. Single-family starts, which make up the largest share of the residential market, were up 0.4 percent in April. Overall, Housing Starts were up just 0.7 percent in the past year. The weakness in April’s report was mainly due to a decline in apartment construction. Building Permits, an indication of future construction, also fell 2.5 percent.

What’s the bottom line? Housing Starts are essential to the health of the economy. New construction helps to create jobs related to housing, which is good news for the labor market, retail sales and the economy in general. New construction also provides much-needed relief to renters and homebuyers frustrated by low housing inventory, higher rents and increasing home sale prices.

I’ll continue to monitor economic reports closely, but if you have any immediate questions, please call or email today.

6 Ways to Save on Paint Projects

Don’t let the high cost of paint discolor your renovation plans! Paying more for paint doesn’t necessarily guarantee you’ll get better quality, better colors or better coverage. Plus, you have a whole slate of opportunities to save.

Calculate the coverage. To prevent buying too much paint, retailer and manufacturer websites offer online calculators. Determine how many gallons will be required for the linear footage you want to paint and the number of coats you plan to put up.

Take it online. Follow manufacturer and home improvement retailer social media accounts and websites for coupons, rebates and news about sales.

Make it monochromatic. Using a single color throughout your home can save lots of money. A five-gallon container of paint is usually significantly less than five single gallons. Keep one color from getting boring by using pops of color in your decor.

Optimize the oops. “Oops” or “mis-tints” are containers of paint that have been returned by other customers and are often heavily discounted. If you find a great color but only a gallon is available, buy a second at regular price and mix them at home to achieve consistent color.

Wait and save. The week prior to a three-day holiday weekend is often a great time to buy paint on sale as retailers anticipate holiday home improvements.

Pan the primer. While some contractors like to use a primer, many self-priming paints have improved enough to skip the priming process.

Homeowners starting summer renovation projects that require a do-it-yourself paint job will want to keep these money-saving tips handy.

Sources: Consumer Reports, The Spruce

Q&A: Teen Smartphone Secrets

QUESTION: Is my teen hiding inappropriate smartphone activity?

ANSWER: One quick way to determine if teens are hiding activity is to check their phones for missing browser history or text message threads that seem to have large sections deleted.

Other red flags may include:

  • Kids lowering or hiding the screen when someone enters the room
  • Refusing to give you passwords
  • Increases in media usage and bandwidth

Stealth apps that appear to have other functions can also provide the ability to hide pictures or keep texts private. Parents should consider staying current with any technology their children access.

Sources: TeenSafe

 

Source: Click Me


Questions, Comments or For more information you can call Christian Penner Branch Manager at Call/Text: (561) 316-6800 or email us at TheMortgageTeam@ChristianPenner.com

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Mortgage Market Guide – Views You Can Use June 2017 Issue

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About Me, My Family, The Mortgage Team & You

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Branch Manager | Mortgage Lender

Christian Penner Your Local Branch Manager and Mortgage Lender That Specializes In All Types Of Home Mortgage Loans: VA – FHA – USDA – Fannie/Freddie – Jumbo – Self Employed – Private Loans – Fix & Flip Loans & Reverse Mortgages

I am currently a Branch Manager with The Christian Penner Mortgage Team, A Division of Hamilton Group Funding, Inc. I have been in the Real Estate Lending Business since 1997. I Graduated from the University of Florida, in 1996, with a BS Degree in Business Administration with a Double Major in Business Finance and Real Estate. I have also graduated from the Todd Duncan Mortgage Productivity School and I am a Licensed Florida Mortgage Loan Originator: NMLS#368289.

About Me

I have lived in North Palm Beach County Since 1976, after moving from Cleveland Ohio. I started working for a Norwest Financial, a Sales Finance Company right out of college providing personal consumer loans, Sales Financial Loans, and Mortgage Loans. I Maintained being a Top 10% Producer throughout my career with the company. I then transferred to Norwest Mortgage which later became Wells Fargo Home Mortgage. Do to my success with Wells Fargo Home Mortgage, I opened and Managed a Wells Fargo Branch office, in Jupiter FL until 2004. Since then I have been a Producing Branch Manager for a few different companies and Banks and I am now the the Manager of The Christian Penner Mortgage Team, a Division of Hamilton Group Funding.

About My Family

More important than my profession is my family. I originally met my wife when I was in the 6th grade, at a Church Youth Group, but we did not actually start a relationship until after we both graduated from College. We have been married since 2003 and we have two amazing children. My son is named after me and my daughter’s name is Brooke and they are a little over a year apart. I really enjoy spending time with them and my wife when I am not working. We all enjoy boating, Golf, going on vacations and enjoying time together at our house in the pool. I also try to stay involved when they are playing soccer, flag football, baseball and martial arts.

Our Goals For You
Our goal for you is to help you to minimize your tax liability and maximize your cash flow. In today's market a mortgage loan is more than ever a financial instrument that must be tied into your long and short term personal financial plan. This will allow you to create a debt strategy that will help you to build long term wealth for you and your family.

The Mortgage Team
We are privileged and Fortunate to have a very experienced Mortgage Team of Professionals that share the same vision. Our intention is to impress upon you the importance of making your mortgage a pivotal component to your overall financial planning strategy. Our goal is to custom fit you with the best overall financing package by, integrating the financing you select with your long and short-term financial and investment goals, which are coupled with your payment and equity objectives.

Throughout the process of your transaction you will be dealing with our entire team at various stages during the loan process. You quest for a new home loan begins with my Intake Team. They will be responsible for working closely from start to finish, answering questions and gathering all the necessary documents for Processing.

Our Processing Team are responsible for the Underwriting Stage, Loan Approval Stage, Cleared to Close Stage and the Closed Stage.

Our Team will stay in touch with you throughout the process, before, during and after your closing. As your Personal Loan Consultant, I will oversee every stage of the process. It is our goal to make the mortgage Loan Process the best part of your home buying experience you will ever have.

We want more then to just earn your business; we want to make you part of our family. Rest assured that with our "Client For Life" commitment, You will always be our #1 priority. We surely hope that you will refer us to all your friends, Family and co-workers!

For Business Partners
Christian works with several referral partners including Realtors, Real Estate Attorney’s, CPA’s, Financial Advisors, Insurance Professionals, Developers and Builders. He is a visionary and his goal is to facilitate and empower you to reach your Marketing & Business goals! I have incorporated multiple cutting edge sales strategies, for his Referral Partners, that include that include lead generation systems using Social Media Technology through Live Streaming using Facebook Live, FaceBook Messenger Bots, Facebook Ads, CRM's, Facebook Business Pages, Google + For Business, Google Adwords, , WordPress, Video Marketing, Webinars, Single Property Websites, Craig's List, Squeeze Pages, Blogging, Text to Voice Technology, QR Codes and Post Closing Marketing Campaigns with co-branding.

Testimonials & Reviews

What my clients say about my service

  • Christian and his team not only helped us purchase our beautiful home but a year later helped us refinance and save hundreds of dollars a month with no out-of-pocket costs for us! To Christian, Mary and the rest of the team: THANK YOU!!!!!

    Bret G
    Bret G Palm Beach, FL
  • Knowledgeable and helpful. Christian's team got the job done and we closed on a great home and got a good rate.

    Jeffrey H.
    Jeffrey H. Vienna, Austria
  • Christian Penner is the best mortgage lender I have ever worked with. He really helped me out and he was able to get my mortgage closed on time! So If you are looking for a great mortgage team then you need to call Christian Penner!

    Joshua B.
    Joshua B. Palm Beach, FL
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    December 14, 2018
    Andrea, P
    The Christian Penner Mortgage is the best mortgage team, I have ever worked with! They have solutions for type of situation.
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