Thursday's Theories
"No one goes there nowadays, it’s too crowded."
Happy Thursday everyone! Sorry for the short hiatus, but Spring is here and it is Purchase Season again! SoCal is having some amazing sunsets that I’ll sprinkle throughout for you. This is arguably the most competitive real estate market I have ever seen, but I’ve said that before. The markets are retreating as predicted(Knock on wood!) and we’ll know more here shortly after President Biden speaks but let me unpack that right quick.
No matter how much better you think this administration will be; I look at it like this… no matter which side of the aisle you support, world machinations cannot be stopped and are cyclical much like our economics and politics. Mortgage Rates are based largely on the 10yr Bond which has essentially declined the past 41 years. I see rates ultimately coming back down and trending lower but that will take some sort of crisis we have not started thinking about yet… say, like another mortgage crisis for example!?
Imagine if renters did not have to pay their landlords for more than a year… I know, I know… that would never happen… But what if it did? While renters would probably get evicted in that circumstance, the home owners would probably still owe payments to the bank unless the Government stepped in with some sort of program… maybe like HARP 4.0 or something so the housing market doesn’t crash again. Many protections are ending this month and some have been extended, but this issue is on the horizon which is why I think we can expect to see rates drop back down. That may take 3-6 months though, so complete your purchase with the best rate execution and float your locks on refinances for the time being.
Today’s Coffee Tips:
Stir your drip coffee…
Stir the entire batch of drip or pour-over brew before drinking. Due to the way coffee is extracted during a pour-over, the resulting drink is actually in layers and is different from top to bottom because of stratification. By giving it a mix, your coffee will be homogeneous and more delicious. Link
As far as cracking an egg in your coffee goes though… let me know on that! ;)
Sunsets & Health Walks…
Health-Walks have become one of my most important daily routines with gyms, pools, etc. closed. Make sure you take care of yourself and your mental health! Here are a few photos taken recently from my big neighbor to the North. Nature is so important to our health; please don’t forget this.
That’s All Folks!
As always… if you need help from The Friendly Lender please feel free to email, text, or call! Have a great ending to your week! =)