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Mark Glouner

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Mark Glouner

Performance Mortgage

markglouner@gmail.com

661 406-5629

DRE #01299857 NMLS ID 260877

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by Mark Glouner

April 20, 2020


by Keeping Current Matters
There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.The financial pain so many families are facing right now is deep.How deep will the pain cut?Major institutions are forecasting unemployment rates last seen during the Great Depression. Here are a few projections:Goldman Sachs – 15%Merrill Lynch – 10.6%JP Morgan – 8.5%Wells Fargo – 7.3%How long will the pain last?As horrific as those numbers are, there is some . . .

April 13, 2020


by Keeping Current Matters
With over 90% of Americans now under a shelter-in-place order, many experts are warning that the American economy is heading toward a recession, if it’s not in one already. What does that mean to the residential real estate market?What is a recession? According to the National Bureau of Economic Research:“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”COVID-19 hit the pause button on the American economy in the middle of March. Goldman Sachs, JP Morgan, and Morgan Stanley are all calling for a deep dive in the economy in the second quarter of this year. Though we may not yet be in a recession by the technical definition of the word today, most believe history . . .

April 06, 2020


by Keeping Current Matters
Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close (think: your neighborhood restaurant). In a recent interview he said:“This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole.” That’s promising, but we’re still uncertain as to when the recently unemployed will be able to return to work.Another concern: how badly will . . .

March 30, 2020


by Keeping Current Matters
The angst caused by the coronavirus has most people on edge regarding both their health and financial situations. It’s at times like these when we want exact information about anything we’re doing – even the correct protocol for grocery shopping. That information brings knowledge, and this gives us a sense of relief and comfort.If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible.Let’s say you need an attorney, so you seek out an expert in the type . . .

March 24, 2020


by Keeping Current Matters
With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market.This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is much more reminiscent of the challenges we had when the dot.com crash was immediately followed by 9/11. As an example, . . .

March 16, 2020

5 Simple Graphs Proving This Is NOT Like the Last Tim
by Keeping Current Matters
With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008. The feeling is understandable. Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:“With people having PTSD from the last time, they’re still afraid of buying at the wrong time.”There are many reasons, however, indicating this real estate market is nothing like 2008. Here are five visuals to show the dramatic differences.1. Mortgage standards are nothing like they were back then. During the housing bubble, it was difficult NOT to get a mortgage. Today, it is tough to qualify. The Mortgage Bankers’ . . .

March 09, 2020


by Keeping Current Matters
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a 9.2% increase from December.How will this impact buyers?
New inventory means more options. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explained how this is good news for the housing market – especially for those looking to buy:“More construction will mean more housing inventory for consumers in the later months of this year…Spring months could still be quite tough for buyers since it takes time . . .

March 03, 2020


by Keeping Current Matters
Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market. If you’re thinking of buying this season, here’s how mortgage interest rates are working in your favor.Freddie Mac explains:“If you’re in the market to buy a home, today’s average mortgage rates are something to celebrate compared to almost any year since 1971… Mortgage rates change frequently. Over the last 45 years, they have ranged from a high of 18.63% (1981) to a low of 3.31% (2012). While it’s not likely that the average 30-year fixed mortgage rate will return to its record low, the current average rate of 3.45% is pretty close — all to your advantage.”To put this in perspective, the following chart from the same article shows how average mortgage rates by decade have impacted . . .

February 25, 2020


by Keeping Current Matters
One thing helping homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020.Why is this good news for the homeowners? When prices appreciate, homeowners gain equity. In addition, those planning to sell this year, especially in the entry-level market, can potentially earn a substantial profit.Dr. Frank Nothaft, Chief Economist at CoreLogic, says:“Moderately priced homes are in high demand and short supply, pushing up values…Homes that sold for 25% or more below the local median price experienced a 5.9% price gain in 2019, compared with a 3.7% gain for homes that sold for 25% or more above the median.”As Dr. Nothaft indicates, the lack of inventory continues to . . .

February 18, 2020


by Keeping Current Matters
In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to homeownership much easier to understand.A recent survey conducted by Ipson and Freddie Mac reveals the confidence level of Gen Z and Millennial buyers regarding the homebuying process. The graph below shows the breakdown of the top results, clearly indicating there’s a significant portion of younger buyers who are not yet confident with some of the steps in the homebuying process.Between the homebuying process and the mortgage process, there are 230 . . .
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