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STOCKS BLOW UP

In the absence of much happening in the bond market where mortgage backed securities trade that create the mortgage rates you sell each day.

Stocks were the talk of the town today.

While mortgage bonds gained 0 – 6 BPS which basically means no change to rate sheets the stock market soared with the DOW gaining 477 points and the S&P 500 breaking a new record and up 45 points. 

It can be confusing to understand what is actually happening when we say the DOW is crazy up and the S&P 500 breaks a record. The DOW is made up of 30 large stocks that are very big and impact markets when things change. It is a great indicator of the blue chip or big dawgs market and today it was up.

The S&P is made up of 500 stocks or in actuality 503 – 505 but those additions are the same company. It is made up of different sectors and some of their big hitters are Microsoft, Apple, Nividia and Amazon. The DOW has these same stocks as well but all of the DOW is big companies like this.

As an example the DOW today was up 1.22%. Apple was up 2.1%, Amazon .8%, Tesla 1.2%, Intel up 4.2% but Nvidia which is a mega tech stock was down 2.5%. Then you have Merck soar 5% due to the FDA just approved a new drug to treat something to do with lung disease.

Even Trump is getting in on the action. Trump Social which is DJT stock symbol went up 14.2% and yesterday on its initial day soared at one point by 60%. It is going to likely be a crazy ride for that stock but hey, It’s Trump. We should not expect anything less.

Whether you love him or hate him it keeps the news channels busy. I think they said he added 5 billion to his net worth yesterday with the new IPO. They relate it to the volatility of a stock like Game Stop which is not based on the traditional statistics but more on sentiment.

The markets continue to look towards Friday PCE Inflation number, todays GDP number and what the Fed continues to say about rate cuts including global central banks and what they are doing with their Fed rate cuts.

Whatever one country does effects all countries. Think of it as throwing a pebble in a lake. You throw the pebble and it creates a wave in all directions. Same goes for everything that happens in the U.S.

Share this info in your conversations and see where the conversation takes you.

Product & Guideline Highlight Knowledge That Gives You An Edge Over Your Competition

SHORT FUNDS? GO FHA

As all of you are aware houses are not selling as fast as they were before and sellers are taking less money and negotiating and paying closing costs or buying down rates with discounts and helping borrowers make deals work.

When a borrower has some reserves but not enough for the down payment and closing costs and they want to keep the interest rate as low as possible they do have options.

With FHA you can get 6% in seller concessions vs the 3% max that conventional allows which can make a deal work and the rate can be substantially lower on an FHA loan even with the MI differences and can be a great deal for a borrower.

Do two things with this information. 
#1 – Keep it in your back pocket when you are trying to figure out a cash to close issue and know that FHA has 6% interested party contributions.
#2 – Use this as a reason to reach out to your realtors. Share it as a trick of the trade when trying to get a borrower or seller to pull the trigger. Doubling concessions can make a lot of things happen even with great credit scores.

Jackism of the Day Truths and Thoughts that make you go hmmm

KEY TO GREATNESS

When we think about reaching the top and realizing we finally made it to what we wanted to achieve in life. What would that look like to you?

There are many ways to calculate success in life. It could be your financial status, your possessions, your family unity, a healthy physique, a stable mind, being top of the leaderboard or a community leadership role.

Whatever gauge you want to use for success today I have the ultimate cure to make it happen for you. It is a guarantee for success but it comes from a different angle.

As they say it is good to be the boss. The boss gets to make the decisions and can push through the red tape and has people that can carry out the tasks they need completed in order for the results to be achieved.

I encourage each person to reach for the stars and to go after their dreams and to make things happen that others cannot do. Use your talents and your gifts, your attitude and mindset and set the world on fire.

As you do this I suggest going about it with this one thing in your mind as you do it.

Whoever wants to be the greatest among the people must be the greatest servant of the people. Then whoever wants to be truly #1 must become the greatest slave to their task.

To be a servant means that you are meeting the needs of others. To be a slave means you are acting under obligation for the end results of others.

This would mean he who meets the most needs of others and commits themselves to the cause and purpose of their craft will yield the greatest results.

Lets say your a loan originator. Do you think you will grow the best company by spending the most on marketing and having the most loans? Or do you think you will have the best reputation and most fulfilling company by serving the most peoples needs where they walk away and tell every person around them what an amazing job you did for them?

What about your family. Do you think you will be at the top of the community with the unity and love your family has for one another by telling your spouse and kids how to act and the expectations you have of them and the path you want them to go down? Or do you build an amazing family by loving your spouse and kids completely unconditionally and where you serve them and love them and cherish them at such a level they cannot imagine life without you and one another.

It is simple my friends. Many times the one who wants to be first in this world will be the one standing at the end of the line to make sure everyone else is taken care of.

It is always better to give than to receive. Do you feel better when you leave the showroom floor with a brand new car and drive it off the lot or do you feel better after spending a few hours at the local homeless shelter helping feed and care for the homeless.

The point today is this. As you grow to achieve greatness in your life in whatever area you choose. Do it by serving the most needs and being fully committed to the cause you have set out to pursue. The greatest CEO’s have always led by example and not by force.

You can absolutely make a difference in the lives that are around you. Just make sure you are the positive difference where people are encouraged and walking away with their needs met vs only your goals and needs being met.