Weekly Update: Back to School!

School is back in full swing (for some!), traffic patterns are back to normal, and things are still booming in H-Town! We hear from realtors across the board that inventory is still low, and borrowers are frustrated more than ever.
 
The Hernandez Team is being proactive on this topic! We want you to know that we can act as an extension of your team! We have a follow up plan for borrowers to keep them engaged during the 'wait and see' period of trying to get a contract accepted.

In other news, the ALS Ice-Bucket Challenge caught up with me this week! I was challenged by my friend and mentor, Josh Sigman, and I called out a few of my own friends! Watch my Ice-Bucket Challenge here: 

If dumping a bucket of ice-water on your head isn't your style, don't worry! It's all about donating to a cause, after all! Click here to donate to the National ALS Association!

Have a great week!

~Jen

Weekly Market Update: August 11-15th- Low rates?!?!

What a week for mortgage rates! I almost fell out of my chair quoting a client today, as the rates are at their lowest level of the year.

The escalation of the conflict in Ukraine drove the market this week.  Reports that the Ukranians destroyed part of an armed Russian convoy that crossed into their borders. The market immediately shifted to the safe haven of bonds, and well, that drives rates down. Investors anticipate that all this conflict will reduce the level of economic activity.

Back at home, sluggish Retail Sales indicate a slowing in the US economy. Investors will wait to see what next week's Consumer Price Index and Existing Home Sales reveal, and also the release of the Fed's minutes from the July 30 meeting.

We'll see what rates do this week! Until next time, friends!

Weekly Market Update, August 4th-8th

Hello, friends!

At a recent lunch with a local developer, who is also a veteran, he had intel that over the next 18 months, the government will be bringing back into the communities 130,000 troops. There is a concentrated effort to push the vets to Texas (Dallas, FW, San Antonio and--you guessed it--Houston!!). Actually, Houston is at the top of the list, and its estimated that 65,000 vets will come over the next 18 months.

So join me, fellow Houstonians, in celebrating our city's vibrant health, and lets all do our part to be 1) good citizens, 2) give back through philanthropy to the city that has been so good to us, and 3) adopt a 'pay-it-forward' attitude, if you have not already.  

What is happening TODAY will shape the lives of our children and the LEGACY we will be leaving behind.

IN THE MARKETS:

Ukrainian conflicts had the biggest effect on mortgage rates this week. Ending the week flat to slightly lower, the main news was the worry of the accuracy of Poland's suggestion that Russia is amassing troops on the border with Ukraine to prepare for an invasion. How would US and European nations respond? Sanctions could ensue, and the uncertainty about the outcome of this brewing conflict is just too much for investors to handle. So they race to the safe haven of bonds, which drives prices of bonds up, and yields (or rates) down.

By the way...Notice anything?

We've revamped my blog! Let us know what you think, either in a comment below, or through social media!

Enjoy your weekend!

~Jen

Weekly Market Update 7/28-8/1

So this week, Lola the dog jumped on Pablo the toddler (playing!), and he fell and scraped his knee (bad!). Poor little guy. No amount of hugs, kisses or words could calm this kid down. He wouldn't let me touch the scrape, band-aid it, or anything. In fact, it was worse than his worst melt down.

Don't we feel in real estate that sometimes--when a transaction takes an unexpected turn--that we, being any and all parties, have a bad scrape and cannot be consoled?  My team is dedicated to do just 3 things every day: 1) Close accurately, 2) Close on time, and 3) Close with tons of communication. That's it. We will not stop trying. When the scrapes happen, and THEY WILL, we want you to know we are an extension of your team, and will do anything within our power to console, cuddle and calm the client so that communication remains intact.

In the Markets:

Rates ended the week a bit higher after investors were caught by surprise at the strength of Wednesday's GDP report. GDP (Gross Domestic Product) is the broadest measure for economic growth. The actual numbers came in at 4.0%, when the consensus was 3.0%. While great news for the economy, it indicates future inflationary pressures, which was negative for mortgage rates. The economic calendar next week is very light, so rates could maintain this slightly elevated level. We are encouraging clients to LOCK as soon as their contracts are executed!

Enjoy your weekend!

~Jen

Weekly Market Update by Jen Hernandez, 7/21st-25th

Weekly Market Update, 7/21st-25th:

Summer is in full swing, and we are still seeing homes with multiple contracts . So its important more than ever before to let us pre-approve your clients AHEAD of needing to make an offer! (a week would be very nice!) Once we get their documents uploaded, and consult /interview the client, we can have a letter within 1 hour.

In the Markets

The slight increase in rates this week was due to stronger than expected economic data. Existing Home Sales are IMPROVING, which constitutes about 90% of the national market. This is the 3rd month the Existing Home Sales have increased.  On the other hand, New Home Sales DECLINED 8%. Overall, the bulk of the housing market is showing improvement, and the news to the stock market was positive.

Next week's Fed meeting on Wednesday and the monthly employment report on Friday will prove to be key indicators on the state of the economic growth. Investors are skittish that there may be rising inflation, and concerned the Fed may tighten monetary policy. The Treasury will also be auctioning bonds on Monday, Tuesday and Wednesday.  Due to the very busy week, we will be encouraging clients to LOCK (instead of float ) their rates.

Until next time!

~Jen

Market Update by Jen Hernandez 7/21

Be sure you're checking our Facebook and Twitter pages for weeks' videos about a time saving tip, and a deal we saved by closing in under 30 days!

In the Markets:

Rates calmed down last week after the turmoil abroad from the horrific tragedy of the plane being shot down over the Ukraine. Investors quickly turned to safer assets (ie bonds), and that lowered the yields a bit.

When a conflict breaks out which could affect global markets, investors generally respond with a "flight to safety". Uncertainty created by the threat of escalation causes investors to reduce the level of risk in their portfolios. This typically involves shifting from stocks to relatively safer assets such as gold and bonds, including mortgage-backed securities (MBS).  

Until next time!

~Jen

Weekly Market Update 06/07/14 by Jennifer Hernandez

June 27th, 2014

 

 Happy Friday! 

 As a lot of you probably know, Jen is out taking a much-needed vacation with her family! She's having SO much fun, so she wanted to remind you to take a vacation! Have some fun with your friends and family. Sometimes, it's all you need to feel refreshed and ready to take on the world!

Favorite Link of the Week:

Houston was named one of the fastest-growing big cities in the country! Click here to watch the Bloomberg video! 

Enjoy the weekend! 

                                                           ~The Hernandez Team