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Hey folks, Dave Friel here with your real estate news for this March 13th, yeah, Friday
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When mortgage rates, they popped higher than I expected you saying, Hey, Dan, I thought
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you said the high end rates were going to be six and a quarter.
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We might get there today, but the Iranian conflicts really thrown havoc into this.
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But I do want to go over with you some, it's kind of like an economist New Year's Day
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today because we're getting the PCE, the, the, some unemployment numbers.
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We're getting the wage growth GDP, all this stuff.
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If you're not excited about it, I'm glad you visited me because my goal each day is
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to help explain to you guys what's going to go on with those today and the wise behind
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So today we're going to get the last piece of information that the Federal Reserve is
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really going to see before they meet next week on inflation GDP and a whole bunch
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And then we're also going to talk about the big housing bill that passed last night.
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I'm going to show you how really it's not going to really do anything to the housing market.
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It is great PR, but I'm also going to give you my experience.
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I was on the housing committee or the committee in my town, and I'm going to show you my experience
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I was on there for about a year and a half, two years, and I just walked out.
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I'm like, okay, this is ridiculous.
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I'll give you a little insight on that.
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But first off, I want to get to these things because of your homeowner, home buyer, maybe
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your realtor, Lone Officer trying to figure out what's going to happen with these today
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and what happened yesterday, you came to the right channel, folks.
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So my name is Dan Frio.
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I'm actually a licensed mortgage loan officer in all 50 states, as well as Puerto Rico.
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My slogan's one application, one credit pool, I'm going to compare your loan to over 30
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I'll give you that at the end of this.
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Let's get to these over through here.
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So here's what's happening in the markets right now.
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I want to start with this because if you're new to my channel or you're old to my channel,
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this is where we really go to.
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This is what's telling us what's going on with mortgage rates.
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Now we had a lot of inflationary numbers come out today, GDP and things like that.
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The federal reserve really monitors, but I just wanted to go here real quick, then show
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you kind of what we got this morning.
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What news we got last night, then we're going to have a live event.
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I'm going to kind of cover this in great details and join me then.
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It's going to be one o'clock, a central time, but the markets are looking pretty good.
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Here's all you need you to know over through here, that number, if it's green up there,
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As the number gets bigger and bigger, that's even better because that means mortgage rates
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are coming down the bigger, the number, the bigger, the adjustment.
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Well, look yesterday, let's get to a two day chart and see if we can get back to
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So here's what happened.
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Remember, I said, when these go down mortgage rates go up.
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You can go over through here.
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Mortgage rates went up.
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So hopefully, hopefully today, we can get back up through here and at least get to my
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high end range of where we're going to be.
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This just went to 23.
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So we'll track that in just a minute.
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We'll get that back to that in a second.
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But here's what the markets are doing.
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So this is what I call basically a Cinderella story and I'm going to get to the reasons
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why here in a second, but we got the Dow Jones.
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It's going to open about 200 points up as some piece up, NASDAQs up, oils down, great.
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The 10 year treasuries down.
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Let's get to crypto.
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Let's let's press our luck.
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So a complete Cinderella story until you get up through there.
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So that's what let's start talking about that.
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Fourth quarter GDP revised down 0.7.
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Well, let's get over to the economic calendar we have for today.
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I'm going to go through all these numbers and it's showing us the inflation.
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The acceleration is kind of flat lining or at least right where the analysts are expecting.
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So let's get over to what we got for today.
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OK, the first thing we want to look at is the PCE.
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That's basically what the Federal Reserve looks at.
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Let's get over to here.
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Federal looks at reserve.
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The PC, that's how they monitor inflation and they look at the jobs report through the
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Anything below five is full employment.
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They control that rate over through there.
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And they also look at the GDP.
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That was 1.4 previously.
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One of those numbers.
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Let's go back to this.
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So let's go to durable goods.
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How much are people buying big stuff?
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Well, it's kind of coming down.
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I expected it would drop to about 0.5 and dropped less than that.
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So the consumption of big orders like cars and things like that, they're way down.
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But now let's get over to the inflationary numbers.
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Here's what the Federal Reserve watches.
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I'm going to break these down.
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Month over month, year over year, and quarter over quarter.
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Then we're going to look at the PCE right through here.
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So let me explain the differences.
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And this is going to be really relevant kind of going forward over the next few months.
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Core strips out food and energy.
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So this one could be kind of flat.
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I'm expecting it to go up a little gradually because of my January effect.
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But it's going to peak.
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And this war is really throwing havoc on this stuff.
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But if you go over through here, year over year one from three, they expected three one
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and came in at three one.
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So that's not a huge increase in inflation.
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So on the core side of it, going over this for Q4, it was 2.9.
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So Q4 last year, again, folks, when we say inflation is slowing down or coming down, it
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doesn't mean prices are going to kind of go backwards.
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It just means the rate of acceleration is slowing down.
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So that's that part.
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It was expected at 1.4, it came in at 0.7.
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That's pretty dismal.
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But let's keep going.
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Then we get to the PC.
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These are the prices with everything included.
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The food, the energy, the whole ball of wax.
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Let's get up through here so I can make sure you guys are seeing this.
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PCE year over year was 2.9.
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It's expected to stay at 2.9, 2.8.
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There's that high five, I said I'd expect to you guys, because I expected this to come
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PCE month of a month, January, 0.4 to 0.3, that's good.
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Personal spending, 0.4, flattet, 0.4.
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So let's summarize this real quick.
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Inflation's still up there, but it's starting to cool.
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Based on this, people aren't buying as big of items.
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They're still spending, basically, on everything that we need.
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So inflation's cooling down.
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But we have to understand with GDP and other things, there was government shutdowns.
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The government shut down what?
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They buy a lot of stuff.
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So when they don't buy this stuff, then the GDP's kind of laps.
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But we'll check over the next couple of readings.
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They're going to kind of revise this a few times, so we'll get to that.
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So that's what we're seeing through the markets right now.
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So they're saying, OK, inflation, it's not the two where the Fed wants it.
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I thought we'd go to three.
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We didn't get there, but this is still way over what they want it to be.
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The jobs report, it's coming in OK, wages OK.
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You might not feel that way.
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But overall, when you look at the numbers, if this is under five percent, it's full employment.
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GDP, there's a hiccup there.
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So overall, this is going to say, OK, inflation's just too high.
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We're not going to cut.
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We're not going to cut.
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Well, let's get over to some other pieces of the puzzle, because this oil stuff could
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Where it hurts people?
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Well, gasoline prices are going to skyrocket.
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Fertilizer's going to go up.
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Everything's going to start going up more and more and more, because of oil.
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Who gets hurt the most?
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People live in paychecks to paychecks.
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So that's where we really got to be concerned there.
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But let's get over to here.
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The Fed's going to meet in five days.
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What are they going to do?
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I'll get to that in a second.
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Now on to that housing bill thing they passed last night.
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Now, we're going to go in this in detail on our live event today.
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And it is a just a white washing of something just, let's go through it here.
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I just want to give you my thoughts on this.
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I was invited by the mayor of Artown several years ago to be on the planning commission
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I was on there for about a year and a half, and then I'm like, I can't do this.
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I had builders, developers come to me after these meetings, and they knew who I was, and
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what business I was in and so forth.
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And they're like, do this is crazy.
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We can build in New York City easier than we can build in your town.
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And we got to go through this and this and that and this, and I'm like, I get it.
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But they're they're they're setting their ways.
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So this is another reason folks, I'm not saying in my town, but you know, make sure you're
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voting in the people that you really want to run your town, your schools, your country,
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your counties, whatever, just do your due diligence.
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Don't just go party line.
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Make sure you really understand that person.
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So that's that piece of it.
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Let's get to this white wash build that they have.
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So they're going to come in and we have, we don't have enough homes.
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And there's too much regulations.
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Regulations that we, we keep bitching about, well, now it's coming to fruition.
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Here's why we got regulations out our, you know what?
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And that's why you can't build.
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So now they're coming in and saying, okay, we're going to make it easier.
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We're going to streamline some rules and inspections and we're going to expand affordability
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on affordable housing, wherever that's going to go.
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And then we're going to give local governments more tools, they already have the tools.
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And then we're going to support manufacturing and modular housing that that is a need.
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A lot of people are buying manufactured homes and modular homes and they up until the last
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few years, they're hard to get financed.
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And then push back on large institutional investors.
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This is an easy loophole to get through folks.
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Number four, manufacturing home, I'm giving that a thumbs up.
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Number three, give local tools, that's BS, two, expand financial tools, BS.
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And number one is complete BS.
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We know there's a shortage of housing, regulations out of control, but this is down to your local
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governments and your county governments.
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So yeah, this is great for that, but we'll dive into this so I can give you my full take
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on all this and more.
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And I'd love for you guys to ask me any questions, so prep yourself for that.
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So last but not least, I figured out how to all make my all my calculators free.
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So there's been in 48 hours we had about 130 people go here and about 10 people downloaded
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Folks, they're all free now.
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You don't even have to put in a code.
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If you're a realtor loan officer, you're going to love these things.
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If you're a consumer looking to buy a house, how much can you afford if you're a homeowner?
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It doesn't make sense to refinance.
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So these are all the tools I'm providing you.
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So folks, I do this a little different.
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I want to provide you the tools, the knowledge, the information you need to make your own decisions.
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I'm not here to tell you to refinance, to buy a house, even who to vote for.
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But my whole goal is to help you understand kind of what's going on with these and the
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wise behind this and other parts of the market.
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Last but not least, let's get over to Koshi.
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They came in and said, I was on here in the CPI, the CPI above this, that check out the
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I'm still trying to figure this thing out.
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I'm trying to see how accurate these estimates are with the real numbers truly come in.
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So folks, last but not least, who am I?
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I said to beginning this, I'm like, I'm a loan officer.
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So my name is Dan Frio.
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I'm actually a licensed loan officer in all 50 states, yeah, all 50 states, as well as
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I've been doing this for over 35 years.
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Here's the reason why I'm at this bank and I'm going to stay here, hopefully forever.
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Is they keep coming us and saying, would you need to be more successful?
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And I'm like, heck, I'm going to rate update.
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So I need more competitive rates and programs.
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What are you looking for if you're watching this video?
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You're probably like, okay, I need to buy house.
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I really don't know what to do.
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I got 7,000 videos down there.
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Every one of these are half of these are going to cover what you're looking for.
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But if you need help with refinancing, got a tool up there through there if you're a home
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owner, put in your mortgage information, it would rate, would you like to be contacted
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Would the payment be?
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What would the savings be?
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Would the break even point be?
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I actually updated it to 2.1.
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So if you're in ratewatch 2.0, put your information in 2.1 because what I added, you can now add
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in how much of a month these savings would you want.
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So now you can say, Dan, if I can save 300 bucks a month, 400 bucks a month, can't reach
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I'd love to talk about the numbers and see what you can do.
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But if you're out there and you're looking to try to buy in the spring, and I know it's
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spring here, in the summer of the fall, we love to make sure you're pre-approved and
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And we're also going to search over 30 different lenders.
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What my bank did is they're like, okay, you need more competition, we're going to set
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So now we have over 30, almost 40 different lenders.
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These are banks, credit unions, and mortgage companies.
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So when you reach out to us, if we don't have the product here, I can help you get through
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that as well by using me and my team during this whole process.
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So that's our report for this morning folks.
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Hope you learned a little bit.
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Hope you have subscribed down there.
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So every time I post a video, you can learn, but join me today at 1 o'clock.
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We're going to go over this new housing bill and how it's more BS and just a smoke screen
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before the midterm elections, you have to understand these, and this is really going
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We can't hurt, but it's really going to help.
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That's what we're going to learn this afternoon.
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So thanks for watching folks.
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Have a fantastic day.
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If you join me later this evening, great, but I will have some videos coming out this
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So have a great weekend.
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Be safe, and I'll see you Monday morning at the opening bell to see how these things
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start yet another week.