Anyone else dead slow the last two weeks?

[Fernando]

Actually, Only in the last couple of years of my mortgage did I get a rate as low as 7%. Again, the problem is prices. Housing prices shot up in 2021-23 due to the stupidity of paying over asking price and driving prices into the stratosphere. That caused the affordability index to collapse. Dropping rates to 5% won't help that much.

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Instead of creating more manufactured low income jobs, US should get its people to have better paying jobs.

 

[soucat]

Extremely slow the last three weeks unless you are willing to work complex overinflated orders for half the market rate. Unfortunately, a good chunk of my business was Anow and they appear to either be extremely slow or have reset how they assign orders with the move to dwelling blocks.

 

[Fernando]

https://finance.yahoo.com/personal-finance/mortgages/article/mortgage-refinance-rates-today-saturday-may-3-2025-100034789.html?fr=sycsrp_catchall

Mortgage and refinance rates today, May 3, 2025: Rates rise in response to April jobs report

Most mortgage interest rates have increased today. According to Zillow data, the average 30-year fixed mortgage rate has risen by nine basis points to 6.70%, and the 15-year interest rate is up five basis points to 5.95%.

Today's higher rate could partly be due to the April jobs report released Friday. The data showed that the unemployment rate hasn't changed, and the country added more nonfarm payrolls last month than expected. Many factors impact mortgage rates — the economy, politics, the 10-year Treasury, the fed funds rate — but in general, rates tend to increase when the economy is doing well. So, while a strong jobs report is good news in many ways, it isn't the best news for home loan rates.

 

[Terrel L. Shields]

Instead of creating more manufactured low income jobs, US should get its people to have better paying jobs.

Only in CA silicon valley are manufacturing jobs "low pay". Idiot statement. High school grads rarely have skills to take high paying jobs. I had 7 years of college and made $100k in the 1970 until the oil patch collapsed in the early 80s. My school teaching ex was making a whopping $20k annually the year we split, and she made $600 more than me that year which is why I started appraisal school. It took 3 years to earn anything above $50k.

And in much of the US, a $25 an hour manufacturing job, and bennies are well paid. And California cost of living reduces the average weekly wage in California adjusted for the cost of living is $1,223. California is horribly expensive place to live compared to 40 plus other states. Only 1% of US workers make in the $700,000 range or higher. And the top 10% earn barely $190k. 4 out of 5 people earn less than $100,000 annually.

best news for home loan rates.

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And again, the problem is PRICE not the interest rates. Affordability is at a historic low point. That's about prices, not interest rates.

 

[Tim Hicks (Texas)]

So you have one ..lol

I am superstitious and will not discuss appraisal volume on a public forum. But, not even close there skippy. Now, I have to worry I angered the appraisal gods. One thing I have learned in 35 years, is that things change, clients change, clients fold, clients get bought out and no matter how busy you are, there is always somebody busier.

 

[Fernando]

Only in CA silicon valley are manufacturing jobs "low pay". Idiot statement. High school grads rarely have skills to take high paying jobs. I had 7 years of college and made $100k in the 1970 until the oil patch collapsed in the early 80s. My school teaching ex was making a whopping $20k annually the year we split, and she made $600 more than me that year which is why I started appraisal school. It took 3 years to earn anything above $50k.

And in much of the US, a $25 an hour manufacturing job, and bennies are well paid. And California cost of living reduces the average weekly wage in California adjusted for the cost of living is $1,223. California is horribly expensive place to live compared to 40 plus other states. Only 1% of US workers make in the $700,000 range or higher. And the top 10% earn barely $190k. 4 out of 5 people earn less than $100,000 annually.

Might as well work in McDonalds in CA where you make $20/hour.

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And again, the problem is PRICE not the interest rates. Affordability is at a historic low point. That's about prices, not interest rates.

Silicon Valley is not as dependent on mortgage rates and sales are doing well.
US needs to have high income jobs. US is not a developing country concentrating on manufacturing jobs.