Must-See: Before Buying a House, Watch This!

so are you concerned about buying a house in this market and then that house price just crash and a lot of people are and the reason being is there's a lot of media attention out there saying Market's going to crash Market's going to crash Market's going to crash I hate doing videos like this I I truly do but I have to call out BS when I see it okay so let me explain today's video I'm going through and I do a lot of research when I'm doing my videos and I'm trying to learn from people like Nick at reventure Capital he fantastic he took this channel from basically nothing he's making probably Millions right now and his narrative is just crash crash crash crash and doom and he's killing it you can see right through here he two days ago 121,000 5 days ago 192,000 what's everything collapse collapse stagflation collapse collapse stagflation C but he just put a video out and this is what what really prompted this video was actually two things he just put out a video right through here and it says HUD reports shocking 100% surge in 90-day mortgage delinquencies okay so that's so the first thing you're thinking is oh man there's going to be tons of delinquency like we saw in 2008 it's going to cause the housing market to crash okay that that's the first thing I would think okay let's go over here we had I had a friend of mine just do a video and this was prompted this actually Javier just did a video and it it's this reventure Capital housing data is it accurate okay so you have to watch this video so check it out I thought this thing would be about 100,000 views by now but it's it'll grow okay so he he basically he uses the the reventure capital app to look at housing prices and delinquencies and all this other stuff and I won't I won't be a spoiler but just check it out and he doesn't give it a very good grade but let's go over to here mortgage and lenes let's just look it up we got mortgage and lenes right here I'm just doing a Google search what's the first thing I see and I put in here the past 24 hours okay so this is as fresh as the data can be un mortgage delinquency rates remain near historic lows well let me put this into context too when Co hit there was a basically a mortgage for uh foreclosure moratorium where you could not foreclose on people until I think it was just last year that this came up and I'm sure people are going to correct me down below but that's okay um there was a moratorium on foreclosure so if you had one and you go to two well that's 100% increase so I I I just wanted to check the accuracy of this so I just put in okay what is it us mortgage delinquency remains at near historic lows okay that's the first thing mortgage delinquency rate up slightly but is at a cost from concern it went from 1.1 to 1.5 adverse and then you have over through here 60 to 90day delinquencies went from. 3 to 04 okay not even 1% all right delinquency rate on single family residency let's is it this is 16 hours ago let's click it it's the US fed okay or St Louis fed let's click it right through here and you go down here here's where we are so if that scares you that all these people here's where the delinquency rate was back in 2008 when the world crashed so and you might say okay we're we we were ticking along at that time and the world and too well this is a completely different thing okay you have to understand what happened here and I'm not going to go on it in this video but there was main major reasons why this happened it was subprime mortgages okay so that's that piece of the puzzle so again you look at the mortgage delinquency on FHA it's at 2.8 all right so really a lot of this data is just I'm going to call BS on it because this data right now I just pulled as well you know mortgage FHA mortgage lency that was Nick was Nick's talking about it it's at 2.8% okay for the third month in a row he has a tendency of saying the worst ever the highest ever the this ever that when you really do the research he only maybe goes back a week we don't understand where he's getting his data because a lot of the information he's providing is just inaccurate or it doesn't give you a lot enough data to really make a make a solid conclusion um you go over to the next thing and I just got this report today as well look at it May 31st Freddy Fanny and Freddy single family serious delinquency rate decreased and it increased in multifamilies slightly so when you start seeing you know things like this shocking 100% you have to put it into context please please all I ask you to do is do your research uh to get the true facts if you're looking to buy a house and in what Market we would like you to understand how to evaluate homes in your area how to figure out what the best programs are for you we can consult you on the mortgage product how much of a down payment you need I'm not going to go here on a daily basis just saying the world's going to end because that's not good for any of us so that's it right now I want to show you guys what's going on with the mortgage bond market right now I do this every day midday mbss are holding steady at at up 12 that means we're going to get probably about a five basis point reduction in rates I don't think mortgage News Daily updated yet because this is from yesterday let's try it one more time to see if this comes down no they haven't updated yet today but you're can probably see rates about 7.25 by the end of today so that's my report if you'd like to learn more about real estate and really take a deep dive in and understand it truly what your Market's doing what you can afford and should you rent or buy please reach out to us we'd love to help my name is Dan Frio I'm actually a mortgage loan officer licensed in all 50 states as well as Puerto Rico you can visit me at the raate update if you're looking for a uh to buy a house the first thing the first thing i' would ask you to do before you do anything see if you're eligible for a grant see if you're eligible for a grant to help you with those down payments or those closing costs it's fantastic program not sure how long it's going to be around but check that out before you even go to the apply Now button so thanks so much for watching guys God bless and I hope don't take this is I'm going out there trying to look for you know people to debate with and fight with on YouTube I'm just wanting to educate and inform you guys with the facts and not some just you know data that I put out there just to get your clicks so thanks so much for watching guys God bless if you find Value in this channel I'm going to ask you one thing please click the apply net or subscribe button right down there below love to have you as a subscribe subcriber thanks so much have a fantastic weekend see you next week bye-bye

Channel: The Rate Update with Dan Frio

Views: 1,824

Keywords: mortgage rates, mortgage guidelines, real estate market, first time home buyer, mortgage interest rates, Dan Frio, win the house you love, kyle seagraves, Fha, VA mortgage, DSCR, USDA, the rate update, Mortgage Rates 2023, How to buy a home, how much can i afford, how much money do i need to buy a home, housing market trends, Home buying tips, Real estate news, buying vs renting, real estate market analysis, real estate finance, real estate investing strategies, homeownership

Id: F6PrWMPJbJQ

Length: 6min 4sec (364 seconds)

Published: Fri May 31 2024