Mortgage Heroes's Podcast
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"The Mortgage Heroes Podcast". Each week Memo, Brian and Andy will break down the latest in real estate & mortgage, dive into the details of what's going on in the markets, and talk about how you can WIN in real estate and mortgage in 2023!
Available episodes
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Oldest first
6 days ago
Mortgage Rate Relief Drives up Demand. NAR Chief Economist optimistic about 2024
Mortgage rates were trending down for their third straight week. Mortgage application demand increased in response to the decline. This is such welcome news relative to the highs from just a few short weeks ago. Hopefully this sets a precedent moving towards the end of 2023, because Lawrence Yun, Chief Economist of NAR is expecting a 15% increase of existing home sales – and – mortgage rates to stay in the 6-7% range in spring of 2024.
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Nov 15, 2023
The Commission lawsuit bends the future for real estate, and the consumer will pay the price.
Last week a new article came out that the Agent commission lawsuits cast long shadow over VA, FHA borrowers, but we’re pretty certain there will be modifications to that before making it all the way down to the consumer. Meanwhile, mortgage rates took a breather and continued to get EVEN better so far this week.
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Nov 8, 2023
The Fed Paused! And did you hear about that lawsuit?
Wow talk about 2 competing headlines last week. The Federal Reserve paused interest rate hikes and a MASSIVE lawsuit was decided last week leaving Real Estate Agent commissions in the crosshairs in the future. On both counts there is still a lot of dust to settle, but for now, check out what we think is happening and what it means to us all.
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Nov 1, 2023
Mortgage Market Solutions & ADUs can now be SOLD SEPARATELY!
We know that solutions may feel few and far between right now, but this week we kick off the show with two topics that could very well open up finance options for homeowners! In this episode we discuss:
1. Scenarios that are working in the market RIGHT NOW
2. ADUs can now be sold separately in California
and more!
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Oct 25, 2023
Mortgage Demand Plummets as Rates Hit 8% But Homeowners Still Have Options
Mortgage Demand Plummets as Rates Hit 8% But Homeowners Still Have Options. The mortgage crunch continues to make national headlines as the industry and consumers battle increasing interest rate environments as well as affordability in the housing sector. Despite this, homeowners who have secured a low interest rate first loan still have access to large amounts of home equity, thereby creating numerous financial options.
In this episode:
1. The 30-year fixed mortgage rates just hit 8% for the first time since 2000 as Treasury yields soar
2. Mortgage demand falls to the lowest level since 1995 as interest rates near 8%
3. September home sales drop to the lowest level since the foreclosure crisis
4. Meet the homeowners giving up 4% mortgages and opting for cash-out refis
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Oct 18, 2023
Industry Groups Pressure the Fed While Consumers Blame Rates
The Mortgage Bankers Association, National Association of Realtors, and National Association of Home Builders called on the Fed to provide market certainty about its rate path. Ongoing uncertainty has exacerbated housing affordability and even consumer sentiment is starting to take its toll...but!....
BUT there are STILL SOLUTIONS in the market for homeowners and your home equity could be the hero you've been looking for!
1.MBA, NAR, NAHB call on the Fed to provide market certainty about its rate path
2.Fed officials see ‘restrictive’ policy staying in place until inflation eases, minutes show
3.Consumers point to mortgage rates, not home prices, as key barrier to affordability
4.Market Solutions Discussion: HELOC, HE-LOAN, Cash out for Debt consolidation, address deferred maintenance, build an ADU, Convert your garage, remodel your home, or add square footage.
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Oct 12, 2023
Fannie Mae Economist Weighs In, and Affordability is Crushing Homebuyer Expectations
As things get tighter in the real estate and mortgage markets more industry leaders are raising their voices about the impacts being felt across the nation. Home prices have remained elevated regardless of mortgage rates continuing their rise which is now causing an affordability crisis not seen in 38 years! Today's topics are:
1.Fannie Mae’s chief economist on housing market outlook
2.Why are existing home prices up year over year?
3.Changing homebuyer expectations are slowing the housing market
4.DataDigest: Today’s homebuyers are seeking affordability not found in the West
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Oct 4, 2023
Insurance Companies Are Leaving California
You have probably heard that insurance carriers are leaving California. We know that this may impact some of you now or in the future.
In this episode:
* Why insurance companies are pulling out of California and Florida, and how to fix some of the underlying problems
* Limited home insurance options in California as major carriers pull back
* California lawmakers failed to fix the insurance market. So what comes next?
* Senators take up looming insurance crisis as policy issuers flee Florida and California
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Sep 27, 2023
The Critical Fed Decision & What Comes Next
The Federal Reserve decided to pause rate hikes, but was it the right decision? And what does this mean for the future or mortgage rates, home sales, jobs, and the economy at large?
In this episode:
1. The Fed pauses its rate hikes for now, will it last?
2. Labor and inflation will help mortgage rates in 2024
3. US Home Price Insights – September 2023
4. Homebuilder sentiment goes negative for the first time in 7 months, thanks to higher mortgage rates
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Sep 20, 2023
Housing Market Predictions: Can Unmarried Buyers Help Save the Market?
The headlines are on the move in real estate and mortgage! Every week new data surprises us with new ways people are getting creative to achieve their homeownership goals! This week we breakdown:
1. More unmarried couples are buying homes together. What to know before you do.
2. Mortgage demand drops to 27-year low as interest rates pull back.
3. Mortgage rate tipping point: Homeowners saw roughly 5% is the magic number to move.
4. Housing market predictions: The Forecast for the next 5 years
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Sep 13, 2023
Home Prices Flattened While Mortgage Rates Peaked, but Are They Related?
Recent reports and research reveal we're experiencing some anomalies in housing and real estate. So today we talked about these recent hot topics to try and make sense of everything that changing:
• Mortgage payments increased 17% annually to $2,162 in July 2023
• Did we reach the peak for mortgage rates this year?
• US CoreLogic S&P Case-Shiller Index Was Even Year Over Year in June, Signaling a Market Shift
• Single-family construction slows across the country in Q2
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Sep 6, 2023
The Future for Mortgage Rates and Home Sales
Look, there's no easy way to address all these market conditions happening right now, so we're tackling them head on!
* New Listings Take a Hit, possibly due to higher mortgage rates. So Where are Mortgage Rates Headed?
* New Home Sales Grow, even with Higher Rates, can this sustain?
* Home sales will be weak in 2024 regardless of “soft landing” per Fannie Mae
* Jerome Powell says the Housing sector is showing signs of picking back up.
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Aug 30, 2023
Mortgage rates hits highest since 2000 - Demand drops - Home sales slump - Inventory takes a hit
With so much happening all at once it can be easy to feel like we're not in the middle of a storm; however, it is vital to face facts and address what's happening in real estate and mortgage.
On deck today we have real estate Inventory growth is slow, Home sales fall again in July, as supply drops to near quarter-century low, Mortgage rates hit their highest point since 2000, Weekly mortgage demand drops again, as interest rates match a 22-year high.
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Aug 25, 2023
Mortgage Delinquency - Neighborhood Disparity - A Sour Outlook - Fall Housing Forecast
Boy oh boy this weeks show has a LOT packed in it. The Mortgage Bankers Association (MBA) reported that the mortgage delinquency rate fell to its lowest level since it began tracking this metric 43 years ago, supporting claims the economy is on the cusp of a turnaround - but is it?
Affordability fell across the board due to surging home prices. The median sale price in high-opportunity neighborhoods grew 100% since 2012, while the median sale price in low-opportunity neighborhoods jumped 174%.
Fannie Mae's most recent "Home Purchase Sentiment Index" (HPSI) reveals 82% of consumers reported that it’s a “bad time to buy” a home, a new survey high. It’s up from 78% in June. That's a bad sign for real estate.
There are about 10% fewer homes on the market now than there were in 2022 at this time. In 2022, mortgage rates climbed rapidly and inventory climbed rapidly. That’s the Altos Rule. When mortgage rates eased down in the beginning of the year, so did the available inventor…
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Aug 16, 2023
Home prices Rebound, Equity Recovers, and Homebuilders Hesitate - WHAT IS GOING ON!?!?
There's a lot to unpack here. The bottoming out of home prices that everyone seems to be predicting isn't happening. While at the same time, affordability is at a 38 year low, and homebuilders are hesitating. Is this fueling corporate take overs of residential real estate and boosting asset values like Blackrock's newly achieved $1 Trillion?
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Aug 9, 2023
Remembering Tanya & Memo's Son Cristian - How we honor him to this day
*"Cristian’s Big Heart"* honors the legacy of Tanya & Memo's son *Cristian Acosta*‐*Flores *whose life was cut tragically short on September 1, 2014 (one day shy of his 19th birthday) due to complications from an undiagnosed enlarged heart.
*Sudden cardiac arrest (SCA) is the leading cause of death *of student athletes and the second leading death of youth under the age of 25. It’s known as the “*Silent Killer*” because in a heartbeat it can take the life of someone you love. The tragedy is that SCA is detectable.
*Cristian's Big Heart *aims to carry forward *Cristian’s legacy *by promoting education on heart health and preventing such heartbreaking incidents from affecting more families in our community.
Organizations mentioned in this episode:
https://www.cristiansbigheart.org/
https://epsavealife.org/
https://calyouthheart.org/
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Aug 2, 2023
What an unsure Federal Reserve mean for homeowners and consumers
Jerome Powell and the Federal Reserve made their most recent rate hike decision, policy statement and answered press questions last week. Let’s talk about what we learned, what we’re still waiting to see, and how this impacts homeowners, consumers, and businesses.
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Jul 26, 2023
Benefits & Risks of Artificial Intelligence in Mortgage and Real Estate
Artificial intelligence (AI) is rapidly transforming the real estate industry, providing a wide range of benefits for both buyers and sellers. Today we unpacked some AI uses along with some proposed uses and discuss whether the benefits are worth the risks. Could this cause a Great Divide between tech adopters and traditionalists?
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Jul 19, 2023
Are we facing a “NEW NORMAL” for real estate and the consumer?
Consumer sentiment is UP.
Home prices are UP.
Mortgage rates are UP.
Mortgage applications are DOWN (currently).
New home starts are UP.
New home sales are still fetching buyers.
Even existing home sales are experiencing multiple buyers once again…
Are we facing a “NEW NORMAL” for real estate and the consumer?
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Jul 12, 2023
Are AirBNB Investors REALLY in Trouble or is this just HYPE?
Recently a viral post saying "AirBNB Collapse is Real" stirred up quite the conversation on BOTH sides of the issue. So are they REALLY in trouble, or is this just HYPE? This week we discussed how this fact or fiction weighs in on Real Estate and Mortgage.
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Jul 5, 2023
From the Frontlines - What's happening RIGHT NOW in Real Estate
This week we talked about some of what's happening on the front line in Real Estate. National Headlines, news shows and online newsletters can paint certain pictures that don't always reflect what's happening in our own back yard. In this episode you'll hear some of our most recent stories of homeowners winning in the market, changes in the loan process which impact the experience, and whether it's worth it to buy the home that needs updated vs. the new build that might carry a higher price tag.
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Jun 28, 2023
Homebuilders and Housing Starts - Is the Housing Recession Over?
Housing inventory has been plaguing most of the country in 2023. However the recent resurgence of Homebuilder confidence and the increase of housing starts led us to discuss is the "housing recession" over?...and did it even really happen?
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Jun 21, 2023
Fed Bomb or Dud - Where are mortgage rates going?
The Fed paused Rate hikes, but revealed they think their terminal rate should be 0.50% higher by the end of the year. Why the pause now? Why not raise immediately? What are they waiting for? Will they raise rates at July's meeting? Where will mortgage rates go? What EXACTLY are they going to be watching in the economy? ...so many questions.
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Jun 14, 2023
Episode 24 - Midyear Rate Update
Andy and Brian unpack where we're at with rates half way through the year. How did we get here, where are we at currently, and where do we think the rates will head by the end of 2023?
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Jun 7, 2023
The Mortgage Heroes Podcast Episode 23 - First Half Recap Highlights!
Today we're going to take a look back at some of the more memorable moments from the first half of our Show season. This year has definitely had a lot of ups and downs with the Fed, the economy, bank failures, buyers resurgence, among other things, so we hope that you enjoy this mid year check-in recap show. With this many doozies, I’m sure the second half of the year has some surprises up it’s sleeve…I mean why wouldn’t it?!?
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May 31, 2023
The Mortgage Heroes Podcast Episode 22 - A Debt Ceiling Conversation
PRODUCTION NOTE: This episode was recorded just days prior to the Debt Ceiling vote. Find out what aspects of lending and real estate are vital and reliant on Government remaining open. We have a follow up episode coming out right after the final vote is settled.
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May 24, 2023
The Mortgage Heroes Podcast Episode 21 - Buyers are Back!
Buyer demand is BACK in San Diego in a big way, and homebuilder sentiment is also up! What’s causing all this buyer demand, sentiment, optimism, and new escrows opening right now?
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May 17, 2023
The Mortgage Heroes Podcast Episode 20 - 3 x 3 Market opinion RIGHT NOW
In this episode, Brian Memo & Andy each discuss 3 Market observations and predictions relevant to what's happening in Real Estate and Mortgage RIGHT NOW!
Also, we also got to celebrate the DTI Loan Level Price Adjustment rule being rescinded! What a great week and a cost savings for borrowers nationwide!
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May 10, 2023
The Mortgage Heroes Podcast Episode 19 - Where do we go with a directionless Fed?
Another Fed Meeting, another rate hike...but now where do they go from here? The prepared comments weren't too revealing and the press Q& A session was really vague. So now we're left dissecting the data to determine what we think will happen in mortgage and real estate through 2023. Here's what we think is going on!
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May 3, 2023
The Mortgage Heroes Podcast Episode 18 - Better CREDIT now costs more?!?!
The new Loan Level Price Adjustments are out and people are pretty upset (including us). Today we talked about the new fee changes that are impacting ALL CONVENTIONAL LOANS originated from May 1, 2023 onward.
SIGN THE PETITION TO REVERSE THESE FEES: https://www.change.org/p/stop-the-fhfa-s-unfair-loan-level-price-adjustments-on-mortgagees-with-good-credit?recruited_by_id=1f332830-defa-11ed-87f8-774cbbc88cb4
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Apr 26, 2023
The Mortgage Heroes Podcast Episode 17 - Spring & Summer Buying Season
This week we talk about the Spring & Summer Buying Season and how market pessimism is NOT actually weighing in on trends here in San Diego.
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Apr 19, 2023
The Mortgage Heroes Podcast Episode 16 - Pulse of the Market
We chopped up a lot during this episode, diagnosing the Pulse of the current real estate and mortgage markets.
* Listings are down nationally, but comparatively are these actually bad numbers locally?
* Risk reduction is happening all over the place, how is it effecting people?
* We need more new home builds to come to the market, but in the meantime you might have to GO TO the area you want to move in and try to make something happen.
* Recent mortgage application data confirms that mortgage activity is low.
* This is a great time to work on your personal advancement in credit, budget, savings, investing.
* Be aware of what's happening in your own backyard. This is a very different market, even though things may FEEL the same, they are not EXACTLY the same.
* This is when you build relationships. Build your wealth team. Need a trust attorney - find one, need a financial planner - find one, you need a tax strategist - find one! Don't know where to turn...ask US!
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Apr 12, 2023
The Mortgage Heroes Podcast Episode 15 - CalHFA Dream for All
In this episode we discuss the CalHFA "Dream for All" program. Not so surprisingly, the $300M allocation was quickly snatched up by the time this conversation aired BUT we are hopeful this fund will be replenished as the demand is clear!
If you need downpayment assistance in California, let us know because we're already preparing aspiring homeowners for the next round OR the new offering that comes out next.
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Apr 5, 2023
The Mortgage Heroes Podcast Episode 14 - Practical advice for what to do next financially
This week Brian and Andy discuss WHAT TO DO NEXT now that we know what the Fed's intentions and agenda are. We KNEW what they were STATING the agenda was, and even in the light of the bank failures, it's apparent now that they are NOT PIVOTING.
Get out your notepad for quick takes that can help you and your family in the upcoming months and years as we work our way through the headwinds still impacting personal budgets, businesses, neighborhoods.
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Mar 29, 2023
The Mortgage Heroes Podcast Episode 13 - Mortgages, inflation, unemployment & the Fed's next steps
The March 22, 2023 Fed Rate hike and Press Conference was the "Super Bowl" of all Fed meetings this year. It may appear rather uninteresting at first, but Jerome Powell made some pretty firm statements about the Federal Reserves mission and what they're willing to let happen in order to accomplish their core tasks of:
- Reducing inflation to 2%
- Restoring price stability to the markets
- Softening the labor market (increasing unemployment)
The mortgage market will reflect each of these items as we continue to Predict, Prepare, and Persevere the days ahead.
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Mar 22, 2023
The Mortgage Heroes Podcast Episode 12 - Bank Failures, we have to talk about this.
It's hard to believe that we're talking about bank failures AGAIN! I thought we already did this "once in our lifetime"? But now, it's not Mortgage and Real Estate to blame...so what should you know? How does this impact mortgage rates? Will the Fed change their gameplan? The risks are becoming more and more known by the day, and this episode reveals what we really think having had a front row seat to the troubles of the past.
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Mar 15, 2023
The Mortgage Heroes Podcast Episode 11 - Reverse Mortgages to the rescue!
Everyone’s starting to talk about reverse mortgages and it has a lot to do with 2 primary factors, elevated “forward mortgage” rates and historic home equity that’s accessible for those eligible for a reverse mortgage.
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Mar 8, 2023
The Mortgage Heroes Podcast Episode 10 - Home Equity declines $2.3 Trillion shortly after reaching all time high
A recent report estimated the national residential home equity total was $47.7 trillion in June 2022, but but the end of 2022 that total declined to $45.3 trillion. There's no reason to freak out though! In this episode we talk about what’s going on, why this is happening, and what people should do!
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Mar 1, 2023
The Mortgage Heroes Podcast Episode 9 - The Big Headlines Developing in 2023 #rates #inflation
It's hard to believe we’re already 2 months into the new year. There’s already been a LOT of chatter about mortgage and real estate, but we have A LOT OF YEAR LEFT TO GO. This week we talk about the topics most likely to be atop the conversation.
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Feb 22, 2023
The Mortgage Heroes Podcast Episode 8 - The Seamless Loan Experience
This week Ximena Munoz, our amazing Loan Processor, joins the show to discuss what it takes to have a seamless loan experience. Memo, Brian, and Ximena share practical steps and best practices you can put in place to give yourself the best chance at a smooth closing!
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Feb 15, 2023
The Mortgage Heroes Podcast Episode 7 - What will make rates decrease?
What do spending money, market liquidity, and inventory have to do with rates decreasing? In this packed episode we talk about it, in addition to:
- Important things that have changed since the Fed meeting on February 1
- Why we can't use seasonal employment when qualifying loan applicants
- How the mortgage market must become more creative in generating solutions for homebuyers and homeowners.
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Feb 8, 2023
The Mortgage Heroes Podcast Episode 6 - What the Fed just said!
Jerome Powell and the Fed just raised the Fed Funds rate again, this time by 0.25% as expected. But more important than that was what Jerome had to say about it. In this episode we break down some of the repeated comments along with some new ones as we call out double speak and what lies ahead!
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Feb 1, 2023
The Mortgage Heroes Podcast Episode 5 - Interest Rates & Who is getting homes in 2023
Rates rates rates! Everyone's talking about rates. They're lower than the summer & fall of 2022, but still a lot higher than the lows of 2020 and 2022.
- So where do we find ourselves one month into the new year?
- Who's getting homes already in 2023?
- Are you paying rent for the same amount as a mortgage payment?
- With less buyer competition, could this be the year you get that home of your dreams?
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Jan 25, 2023
The Mortgage Heroes Podcast Episode 4 - The Headlines are Writing Themselves
We're only a few weeks into the new year and the headlines are already writing themselves. We discuss the housing themes that are beginning to reveal themselves, and we also cover the latest with Bank of America and Wells Fargo's "creative financing" solutions. Are they helpful or harmful?
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Jan 18, 2023
The Mortgage Heroes Podcast Episode 3 - The 3 2 1 buydown and how to use it in this market
This week we have a product highlight conversation on the table. Brian and Memo discuss the 3 2 1 buydown. They also describe how people are using it in this market and the advantages it can give sellers AND buyers alike.
This tool can help buyers achieve a lower monthly payment during their first years of ownership. This tool can help home sellers move their home on the market quicker than their competition. This tool can help agents be rockstars to their clients, no matter which side of the transaction you are representing.
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Jan 11, 2023
The Mortgage Heroes Podcast Episode 2 - Home Prices & Was the Homeownership Society a Mistake?
We're only into the second episode of our new show and there's already drama!?! We talk about the mechanics of home prices flattening, but will they crash?
And Was the Homeownership Society a Mistake? We debate this topic kinda of...don't let the media sell you down the river.
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Jan 2, 2023
The Mortgage Heroes Podcast Episode 1 - A Look back at 2022, and a look ahead at 2023
Welcome to our new show! We wanted to start of the year with a bang by introducing a new show format, "The Mortgage Heroes Podcast". Each week Memo, Brian and Andy will break down the latest in real estate and mortgage, dive into the details of what's going on in the markets, and talk about how you can WIN in real estate and mortgage in 2023!
This week we take a look back at some of the most meaningful parts of 2022 and look ahead to what to expect in 2023!
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