💸 GTG Weekly - ISSUE 100

Issue 100 - Good Morning and Happy Tuesday.

Well, we made it, 100 issues! I started this newsletter back in December of 2022. The main reason was that we were coming off our worst year ever as a company (like a lot in the industry), and I knew that something needed to change. It was necessary to take action.

I had thought about the classic “let’s call 40 agents on Monday morning” route, but there were a few problems with this:

• Other LOs were doing this already.

• I would personally find being called this much annoying.

• Calling Realtors in that market was more of a reminder of how much business they were NOT doing rather than encouraging them.

• It’s really just not my style.

GTG Weekly became my version of “cold calling.” With it, I found that I enjoyed putting together a weekly email to send out. Share my thoughts, market insights, and what the family was up to recently.

I moved from Active Campaign to Beehiiv as a platform to send the newsletter. I shared anything with those who asked. I tried, failed, and succeeded with many formats, send times, content, and everything in between. Harnessed ChatGPT for help, learned new tech and forged new relationships.

A massive THANK YOU to those who continue to support GTG Financial and enjoy reading each week.

I’m excited for the next 100 issues of GTG Weekly and what’s to come in 2025.

Personal note: I played hooky for half of Monday. Drove down to the city to watch the 10th-anniversary release of Interstellar on 70MM IMAX in San Francisco. The weather was glorious —61 degrees, clear and the movie was AWESOME.

I have always loved the movie, but watching 70MM IMAX is a different animal altogether.

INTEREST RATES
Rates 📢 December 10th, 2024

Rate data as of morning of publication. Unless noted otherwise, all scenarios are assuming 30 Year-Fixed mortgage, Purchase or R/T Refinance. No origination points charged, 780 FICO score, and 20% down payment. Provided for consumer education only and does not serve as a binding offer to extend lending. Payment period, interest rate, APR, and other terms subject to income, asset, and credit profile qualification. Provided courtesy of GTG Financial, Inc. NMLS 1595076. Equal housing opportunity. www.nmlsconsumeraccess.org

Rates: Movement downward continues! We are watching a steady decline in rates happen again. Last weeks BLS jobs report came in slight higher than expected. Most were “bounce back” jobs as a result of the dock strikes and storms. This Thursday will see initial jobless claims.

Bottom Line: This is good news! Spread the word to your shopping clients! It’s unknown how long this will last!

TECHNICALS
Jobs Bounce Back

• Labor Market Focus: November's BLS report showed 227,000 new jobs, but the Household Survey revealed 355,000 job losses, highlighting a disconnect. Seasonal hiring among teens (16-19) drove much of the growth, while full-time and part-time jobs fell sharply.

  

• Home Prices: Prices rose 3.4%-3.9% annually in October, with steady appreciation driven by tight inventory despite typical fall slowdowns.

• Hiring Trends: Elevated jobless claims and slowing hiring indicate challenges, potentially impacting buyer confidence.

• What to Watch: Inflation data this week (CPI, PPI) could influence mortgage rates and market dynamics.

Key Takeaway: The labor market's cracks suggest potential shifts in rates, while housing remains a strong investment with steady price growth. Stay informed to guide clients effectively.