Morning! This is MF Lending - the fool-proof way to serve up mortgage and real estate market knowledge without any of the guesswork. So you’ll look like the smartest agent in the room (and you are!)

Here’s what we’ve got for you today:

1. A Volatile Week Brewing 🍺

2. Max Purchase Calculator 🧮

By the way, this article on Two Major Obstacles for Potential Homeowners is the most clicked link in this newsletter, you should check it out if you are interested.

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[Read Time: 3-4 min]

Rates Today 📉

A Volatile Week Brewing 🍺

The first week of March has the makings of a volatile one. We are starting this morning down about 14bps in preparation of things to come.

Wednesday and Thursday, a familiar face - Jerome Powell - takes the stand to testify in front of Congress. He will be questioned by our Congresspeople and hopefully provide a more specific timeline for rate cuts.

No matter what is said at these testimonies, you can expect the market to overreact.

I tend to believe that we are at the upper crust of interest rates (even after the recovery we have seen in the last 7 days). I think that we have much further to fall than we do to rise. If we see some positive inklings from Powell, you may see some mortgage companies step on the gas and start improving their interest rates ahead of the Fed.

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Friday, we also get the second piece of economic news that has consistently moved the market - Non-Farm Payrolls & Unemployment Rate.

If this number comes in higher than expectations, any gains we got from Powell will be erased. This report has consistently moved the market every month for the last year. If we continue to see above-trend strength in employment, there will be no catalyst for the Fed to start their cutting cycle.

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Keep an eye out for MF Lending Thursday to see where we stand.

Max Purchase Calculator 🧮

The number one question I get most often is this: “Michael if I make “X” amount, how much can I qualify for?”

So - I created this Max Budget Calculator so you can do the calculation yourself!

All you need to do is put in your annual income, monthly debt, and down payment preferences - this calculator will do the rest.

- Step 1 - play with this calculator to determine what you may qualify for

- Step 2 - call Michael (or DM me) to go through an initial preapproval (~24 hrs)

- Step 3 - get with your amazing realtor and go shopping!!

It really can be that easy. 😊. If you are thinking about purchasing a home this year - this is the best place to start.

If you want a custom calculator with your brand on it that you can send to potential clients, please leave a comment or email me directly and I can get you one!

Thanks for reading - that is all we have for today 😎

Please forward this to your friends and colleagues if you found it valuable.

— Michael F DiLucchio