November 7th, 2024 10:21 PM by Eric Willner
Radio Show Notes 11/06/24 Wednesday:Read a summary of the show below orListen HereWatch Live Facebook Video Here
Midweek Market Report: Why NOW is the Right Time to Build Your Real Estate Economy!
By Eric Willner, Investor, Coach, and Host of The Real Estate Show, America’s longest running daily radio show about real estate.
Welcome to the Real Estate Show! South Florida’s #1 Real Estate Radio Show and America’s longest-running daily radio show about real estate. My name is Eric Willner, known as the Voice of Real Estate. I’m the founder of America’s longest-running daily real estate show and creator of the Automatic Landlord System for owning cash-flowing real estate—Profitably and Hassle-Free! This show is a virtual real estate seminar in every episode.
Today is the “Wednesday Midweek Mortgage & Market Report” Edition of The Real Estate Show, and we’re diving into why NOW is the best time to invest in real estate. Today’s theme: “It’s Time to Build Your Own Economy.” We’re here to talk about why real estate is one of the most powerful ways to do just that.
Everyone is in Real Estate! Either you’re in real estate because you own it—you’ve searched, negotiated, closed on it, and now you’re building wealth while gaining the pride and security of homeownership. Or, you’re on real estate—if you’re renting, paying toward the mortgage of a landlord or even working for an employer who pays rent for the workplace you’re sitting in. The truth is, real estate is the foundation of every economy, and it’s either working for you—or for someone else.
It’s Time to Build Your Own Economy
Did you know that real estate investment can act as your personal economic engine, giving you both financial security and wealth-building power? Today’s show is all about how building your own economy starts with taking control of real estate. When you understand real estate’s role in your financial future, you’re setting yourself up to build real wealth. You gain independence, financial freedom, and peace of mind.
Before we dive into today’s news and strategies, here’s a quick heads-up about this week’s FREE Workshops:
Finances are one of the biggest challenges people face, and let’s face it—most of us have felt the pinch! That’s why we offer The Financial Edge: the education, strategy, and expertise that can move the needle for your financial future.
Our philosophy is simple:
Now let’s dive into the midweek mortgage and market report—because understanding the news helps you organize your approach and gain a Financial Edge!
Today’s National Mortgage Rate Update
On Wednesday, November 6, 2024, the average 30-year fixed mortgage rate stands at 6.90%, a slight rise from last week. The refinancing rate is close at 6.91%. Even with elevated rates, forecasts suggest a slow decline, which could mean rates dipping below 6% over the next year. For potential buyers, there’s no better time than now to start preparing financially. Consider getting a “soft” prequalification to see where you stand.
Mortgage rates and market shifts are always moving, which makes staying informed essential. Interest rates for 30-year fixed mortgages again rose this week, up to 6.88% in Bankrate’s latest survey, even with a recent Federal Reserve rate cut. While the Fed’s cuts don’t directly set mortgage rates, they impact broader markets that influence mortgage trends.
For those holding out for lower rates, now is an excellent time to explore refinance options or prepare for future buying opportunities. A Bankrate survey showed that 47% of homeowners would consider buying if rates dropped under 5%. But here’s the reality: mortgage rates will fluctuate, so being ready is key.
First Article of Interest: Mortgage Demand Tanks 11% as Interest Rates Surge Higher
The demand for mortgages dropped by 11% last week, as interest rates for 30-year fixed loans climbed to 6.81%, impacting both refinancing and new purchase applications. The drop marks a significant shift as buyers feel the weight of higher rates, leading some to temporarily step back from the market. Applications for refinancing fell by 19%, and new mortgage applications dropped by 5%.
So what does this mean for you? This cooling period is an opportunity for serious buyers. A slight lull in demand can translate to less competition, better negotiating leverage, and a more thoughtful buying process. For those ready to build their economy, this market moment can be a blessing in disguise.
Remember to Text EDGE to 561-861-2366 to stay ahead with our tools and insights. We’re here to be your partner in navigating the real estate market!
Second Article of Interest: Dow Futures Surge as Trump Defeats Harris
The 2024 presidential election brought some unexpected market reactions. Stock futures jumped significantly, with Dow Jones futures up 1,346 points as news of Trump’s win emerged. Markets rallied on expectations of pro-growth, pro-deregulation policies that could benefit real estate, finance, and other growth sectors. Investors foresee a continuation of policies favorable to the housing market, tax benefits, and deregulation.
Increased investor confidence and economic growth can create ripple effects across real estate. Stocks and Treasury yields spiked on speculation about forthcoming tax cuts and economic expansion, which may further support home values and increase investment in real estate. All signs point toward a pro-growth environment that makes real estate an ideal vehicle for building long-term wealth.
Third Article of Interest: The Average Age of First-Time Homebuyers Hits 38
First-time homebuyers are now older than ever, with the median age climbing to 38, according to the National Association of Realtors. Why? Rising prices, limited inventory, and the influence of wealthier buyers have made entering the housing market more challenging. Today’s first-time buyer tends to have a higher income and more savings.
For younger or prospective buyers, this signals the importance of starting financial preparation early. Knowing what you can afford, having savings, and understanding financing are vital. It’s also a reminder of why we focus on affordable housing solutions—a growing necessity as market constraints shift the homeownership landscape.
Higher entry barriers only emphasize the importance of planning and financial literacy. Real estate is still one of the most effective ways to create wealth, but a focused strategy is now more critical than ever.
Build Your Economy, One Property at a Time
The news and trends we discussed today make one thing clear: real estate isn’t just an asset; it’s an economy—your personal economy. Buying a home, owning investment property, and leveraging the financial strategies we offer through our Financial Edge Academy are all ways to create a financially secure future.
And don’t wait for the “perfect” time; build your economy now. Today’s mortgage rates, fluctuating as they may be, still offer incredible long-term value. Text EDGE to 561-861-2366 to find out how you can take advantage of these trends with our financial team at your side.
Wrapping Up
Thank you for tuning in to today’s episode of The Real Estate Show. Remember, real estate remains one of the best investments, so get started today! Don’t just listen—use the information from our show to make educated decisions in real estate investing. Join us tomorrow for our ATM Edition—About The Money and share this show with others who should own real estate. Until next time, this is Eric Willner, the Voice of Real Estate, signing off—build your economy, and make real estate work for you.
Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.
Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.
Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow
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