Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of November 7th, 2024, were as follows:

The 30-year fixed mortgage rate was 6.79%, up from 6.72% last week. The 15-year fixed was 6.00%, unchanged from 5.99% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Freddie Mac was chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Their mandate is to provide liquidity, stability, and affordability to the U.S.

**All Classes are taught at the Encino Office 17501 Ventura Blvd., Encino, CA 91316 except for Thursday November 7th which will be held at the Corporate Office 9171 Wilshire Blvd, Suite #321 in Beverly Hills**

Monday, November 4th
9:30 – 11:00: Real Estate Laws, Ethics, Responsibilities. MLS rules, NAR code of ethics
John Gould

11:15 – 12:45: Disclosure Requirements, Agent inspection duties, Risk management
John Gould

1:45 – 3:15: Listing paperwork, Seller Disclosures, TDS, SPQ, AVID, Lead Paint Disclosure, Water Heater Smoke Detector Statement of Compliance, Toxic Mold Disclosure, Earthquake Booklet, Carbon Monoxide Disclosure, etc.
Part 1
Wendy Cox

3:30 – 5:00: Continuation of Seller Disclosures –
Part 2
Wendy Cox

Tuesday, November 5th
9:30 – 4:30: Prospecting Boot Camp

Wednesday, November 6th
9:30 – 11:00: Unleashing the power of the mind. How to create your Real Estate Success!
Buddy Gordon

11:15 – 12:45: It’s all about habit. Practical day-to-day applications to make it all work.
Buddy Gordon

1:45 – 3:15: Anatomy of the transaction. What to do after the receipt for deposit is signed. Getting the escrow closed. Time frames. Keeping your clients informed. What to expect during Escrow? We’ll go over an entire transaction from start to close.
Part 1
Oren Barkan

3:30 – 5:00: Anatomy of the transaction – Continued
Part 2
Oren Barkan

Thursday, November 7th
**This will take place at the corporate office 9171 Wilshire Blvd, Suite 321 in Beverly Hills, CA 90210**

10:00 – 12:00: Corporate tour/Rodeo Tools
Corporate Staff

12:30 – 2:00: Digital Marketing – Social Marketing – One-on-One Technology Training
Corporate Staff

2:30 – 4:00: Geographical Farming plus Open House Techniques
John Gould

Friday, November 8th
9:30 – 11:00: Finding Homes to Show, Showing Property, Presenting Offers, Counter Offers, Multiple Offers
Marc Chorin

11:15 – 12:45: ZipForms and the forms library
Simon Pozi

1:45 – 3:15: Leases – Paperwork required. How to complete them. What are your responsibilities?
Kristy Fields

3:30 – 5:00: Home Inspection. What does the Seller have to do? Handling Requests for Repairs
Kristy Fields

Monday, November 11th

9:30 – 11:00: Listing Presentation, Part 1
John Gould

11:15 – 12:45: Listing Presentation, Part 2
John Gould

1:45 – 3:00: Residential Purchase Agreement
Part 1
Mark Shepard

3:15 – 4:30: Purchase Agreement
Part 2
Mark Shepard

Tuesday, November 12th
9:30 – 11:00: Escrow duties and process. Reviewing a buyer and seller closing statement. What the costs are for?
Encore Escrow

11:15 – 12:45: Loan products, down payment requirements, credit scores, how buyers are qualified, buyer’s closing costs
LA Mortgage

1:45 – 3:15: Title Insurance – reading a Preliminary Title Report
Progressive Title

Wednesday, November 13th
9:30 – 11:00: Psychology of Sales. Helping buyers and sellers make decisions.
Kyle Leibovitch

11:15 – 12:45: Psychology of Sales, Part 2
Kyle Leibovitch

1:45 – 3:15: Difference between Counteroffer forms – when is the acceptance – COP form – Other forms
Buddy Gordon

3:30 – 5:00: Disclosures included with RPA, Agency, Fair Housing & Discrimination Advisory, Possible Representation of More Than one Buyer or Seller – Disclosure and Consent, Wire Fraud & Electronic Funds Transfer Advisory, Buyer’s Investigation Advisory, Fair Appraisal Act Addendum, Consumer Privacy Act Advisory, Disclosure & Notice
Buddy Gordon

Thursday, November 14th
10:00 – 12:00: Texting Techniques with Scripts
Buddy Gordon and Mike Weaver

1:15 – 3:15: Go Door Knocking with Buddy and Mike
Buddy Gordon and Mike Weaver

4:00 – 5:00: Back to the office to make some cold calls together
Buddy Gordon and Mike Weaver

Explore our website for the most up-to-date information on real estate data and local news!

RodeoRe.com

U.S. Hiring Stalled in October – The Department of Labor and Statistics reported that only 12,000 new jobs were added in October, down from a revised 223,000 new jobs added in September, and well below what economists expected. The two hurricanes and the Boeing and other related strikes were cited as the reason for the drastic drop. It is not possible to put a number on what hiring would have occurred in southern states that are still assessing damage from two devastating hurricanes in October, or how many strike-related job losses there were. Normally a drop in hiring like this would cause the stock market to drop sharply and bond yields and mortgage rates to drop as well, but it was exactly the opposite on Friday after the report was digested, as investors accepted the hurricane and strike excuse for the low jobs number. The unemployment rate was 4.1%, unchanged from September and down from 4.2% in August. Average hourly wages increased 4% year-over-year in October, down from a 4.2% annual increase in September, but still higher than the 3.8% annual increase in July and August.

Stock markets – The Dow Jones Industrial Average closed the week at 42,052.19, down 1.15% from 42,114.40 last week. It is up 11.6% year-to-date. The S&P 500 closed the week at 5,718.80, down 1.5% from 5,808.12 last week. The S&P is up 19.9% year-to-date. The Nasdaq closed the week at 18,239.92, down 1.5% from 18,518.61 last week. It is up 21.5% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.37%, up from 4.25% last week. The 30-year treasury bond yield ended the week at 4.57%, up from 4.51% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – Every Thursday Freddie Mac publishes interest rates based on a survey of mortgage lenders throughout the week. The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of October 31, 2024, were as follows: The 30-year fixed mortgage rate was 6.72%, up from 6.54% last week. The 15-year fixed was 5.99%, up from 5.71% last week.

The graph below shows the trajectory of mortgage rates over the past year.

Have a great weekend!