May 21, 2020
The 100th episode of the Martini Mortgage Podcast with Kevin Martini is called: “What is going on that you need to know!” Kevin Martini is not just the host of the Martini Mortgager Podcast, he is also the Branch Manager and Senior Mortgage Strategist of the Martini Mortgage Group at Benchmark Mortgage which is located in Raleigh, North Carolina and helps families in North Carolina, South Carolina and Virginia.
So many are out of work right now! At the end of February 2020, the jobless rate was 3.5% with 5.8 million people out-of-work.. At the end of April 2020, the jobless rate was 14.7% with 23.1 million people out-or work. What is the impact of this high unemployment on housing values and mortgage rates?
Is the unemployment picture getting better?
“Here is my take based on data and it is critical that I share the numbers are not pretty but they do show me that the worse may be in the rearview mirror.” Kevin Martini
According to data from the Bureau of Labor Statistic thing are getting better. Not minimizing the unprecedented level of people that are out-of-work but the number of new claims is down week-over week.
When will the economy recover?
“…4 major financial institutions are calling for a ‘V’ shaped recovery and I truly believe they are correct.” Kevin Martini
The major financial institutions (e.g. Goldman Sachs, JP Morgan, Morgan Stanley, Wells Fargo) are expecting a ‘V’ shaped 2nd half of 2020 recover.
Are people still looking at homes?
“Covid-19 is accelerating the future in real estate and also in the mortgage business too!” Kevin Martini
This is the video edition of the Martini Mortgage Podcast, episode 100. The audio only portion is available on all streaming services and fresh episodes are curated every Tuesday.
Kevin Martini | NMLS ID 143962 | Senior Mortgage Strategist & Branch Manager | Martini Mortgage Group at Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS ID 2143 | 507 N Blount St Raleigh, NC 27604 | (919) 238-4934 | www.KevinMartini.com | Kevin@KevinMartini.com | Equal Housing Opportunity