Reflecting back on this year, I am so grateful to you, my clients, for your continued patronage of my business. By December 31, I’ll have helped over 110 families secure financing for their real estate dreams and investments this year. Looking at my numbers, most of my customers are either repeat clients or referrals from clients. This means a lot to us. Every time I receive a call or an email from a familiar name, I feel that you are part of my family.
In 2018, the mortgage/finance industry experienced some hurdles that we are clearing:
- We are in a rising rate environment.This impacts purchasing power and makes refinancing more difficult. But rates are still well below the forty-year average, and real estate is still a sound investment.
- Market volatility.2018 was a record year for stock market returns. Generally, this hurts rates. The market has swung wildly up and down whipsawing returns. We’ve seen inconsistent increases (and decreases) in rates. For example, we experienced the quickest 2-day increase in rates in mid-October since 2003
- Great economic numbers.Though lately economic data has been mixed, the economy keeps chugging along at a good clip. Can we agree that full employment and increasing wages are a good thing? Good numbers typically point to higher rates.
When the economy is better, rates should increase. This is due to inflation fears and bond markets need to raise rates to attract investment. On the flip side, people have jobs, can change jobs easier and can earn more money. Also, when folks feel better about the economy, they tend to spend more on goods and services including housing (and that is where I come in). My hope for you is that you and your family are prospering with this strong economic environment. And thanks for allowing my team and me to continue supporting your home finance strategy and needs. My goal is to be your lender for life so please know you can always connect with me for any questions or assistance you need with any home financing plans you may have.
(Photo credit: Mozart Coffee Roasters, December 2017 by Jacqueline Cooper)