Michael Middleton

Good Day Everyone, A quick update on home sales and interest rates. Nationally, home appreciation surged 18.6% in 2021. This is the highest year-over-year increase since 1987! (also the year I started my Real Estate career) That's the good news, the not-so-good news is that the interest rates are on their way up. The 52-week range was 2.18% to 4.19%. Ouch! This should slow appreciation but any savings in purchase price could be offset by the higher rates. You know the ole saying, “there ain't no free ride”. Bottom line is, if you're ready to move I'm ready to help! Contact me anytime, even if it's just to ask me a question!

Great rental condo living in the heart of Champions! Contact me today, if I can help you.

Wow, you may have more equity in your home than you think! According to Realtor Magazine, homeowners that are “equity rich” rose to nearly 40% of all households nationwide. This is up from slightly over 28% this same time last year! “Equity rich” is defined as the total liens against a property being 50% or less of the home’s fair market value. That is amazing! Want to find out the amount of wealth you have stored up in your home? Contact me today for a no obligation home value assessment to see how much money can be unlocked from your home!

The latest from Doug Luza, CMG Mortgage, regarding home mortgage interest rates and the latest stats on the job market. Mortgage rates inched up slightly last week, largely due to strong jobs reports. The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) hit a record high number of job openings. Mortgage applications increased, as did the consumer price index. Initial jobless claims fell, and continuing claims dropped to their lowest level in 17 months. MORTGAGE RATES CURRENTLY TRENDING THIS WEEK'S POTENTIAL VOLATILITY • Compass CEO discusses hot spots in the real estate market. Watch Now >> • Steve Murray on the investor market and iBuyers. Listen Now >> • Falling lumber prices spark resurgence of building projects. Read Now >> • Job openings hit a new record high – totaling at 10.1 million in June. Consumer demand for travel, restaurant, and entertainment services is surpassing the availability of laborers, but total hires rose to 6.7 million. The quits rate rose to 2.7% -- showing strong consumer confidence in the economy and the ability to get another job. • Mortgage applications increased 2.8% during the week ending 8/6. The Refinance Index rose 3% while the Purchase Index rose 2%. "Homeowners continue to respond to lower rates,” said Joel Kan, Associate Vice President of Economic and Industry Forecasting of the Mortgage Bankers Association (MBA). • The consumer price index (CPI) inched up in July – rising 0.5% month-over-month and 5.4% year-over-year. The core CPI, excluding food and energy, jumped 0.3% month-over-month and 4.3% year-over-year. Economists continue to claim that the inflation is temporary. • Initial jobless claims fell for the third consecutive week, falling to 375,000 during the week ending 8/7. Continuing jobless claims fell to the lowest level since March 2020, down to 2.87 million during the week ending 7/31. This week's important economic reports include: • NAHB housing market sentiment index • Housing starts and building permits WEEK OF AUGUST 16th, 2021 Sincerely, Doug Luza NMLS No. 311377 Area Manager | CMG Financial Mobile: (832) 575-2210 14502 Cypress Mill Place | Cypress, TX 77429 CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage, Inc. is an equal housing lender, licensed by the Department of Financial Protection and Innovation (DFPI) under the California Residential Mortgage Lending Act No. 4150025. AZ license #0903132. Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending. Licensed by the Virginia State Corporation Commission #MC-5521. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org. 311377 This email was sent as part of my effort to maintain our relationship and keep you well informed of market conditions. It could be interpreted as a commercial message. If you would like to stop receiving these emails, you may unsubscribe at any time. Unsubscribe here. CMG Financial

HOUSTON — (August 11, 2021) — By the numbers, Houston-area home sales were down this July compared to last. However, that is because COVID-related home closing delays during Q2 2020 finally pushed through that July as most of the pandemic lockdowns were lifted. The resulting surge of pent-up sales cemented July 2020 in the real estate history books as a record-setting month that could not be rivaled by the rapid-fire pace of the current market. Contact me today for your real estate needs!

Housing starts increase 3.6% in May. This is a good indication that low housing inventory coupled with strong buyer demand are continues to fuel the market. If you’re considering making a move, contact me and I’ll develop a strategy tailored to specific needs.