Oklahoma Mortgage Group - Mike David

  Picture this: the sun setting over a tranquil beach, the scent of freshly brewed coffee wafting through the air, and not a worry in the world about bills or financial constraints. This idyllic retirement dream is what most of us aspire to achieve. However, the harsh reality is that only 5% of retirees can bask in this independence without relying on social security payments. If you're determined to savor the sweet taste of freedom in your golden years, it's time to think beyond the norm and embrace the power of real estate as a cornerstone of your long-term financial strategy.   The Hard Truth   As we delve into the sobering statistics, it becomes clear that depending solely on social security payments can lead to a life of financial uncertainty. While the vast majority of retirees find themselves tethered to these payments, only a fortunate 5% enjoy true independence in their retirement years. This reality check should jolt us into action, compelling us to seek avenues t

We find ourselves on the cusp of a significant market reset following recent turmoil caused by investors shorting mortgage-backed securities. To provide some clarity, when investors take a short position, they essentially bet on the failure of a security. In this case, the focus is on mortgage-backed securities, and as these securities approach predefined levels, many investors are poised to reinvest in them. (Here is a graphic explaining what mortgage-backed securities are and how they are created) This potential influx of reinvestment holds the power to invigorate the markets and potentially lead to a decrease in interest rates. However, our optimism is tempered by this morning's robust jobless claims report, signaling potential economic challenges ahead. Adding to this, tomorrow's address by Federal Reserve Chair Powell, set against the backdrop of the Jackson Hole summit meeting, is expected to shed light on the Fed's upcoming strategies. Should Powell hint at the need

Should I wait to buy a house? What are interest rates going to do? First, let me say that I completely understand your hesitancy. With high interest rates and soaring house prices, anyone could argue that it seems like a terrible time to buy a house. However, let's set aside opinions and focus on some facts. To predict where interest rates are headed, we need to look at their past behavior and reasons. In history, interest rates mostly followed inflation, except for temporary cases. Why is there inflation now? It is estimated that COVID caused $14 trillion in economic damage to our country. Putting so much money into the economy leads to inflation for years. While this might oversimplify the problem, it's a big reason. Printing lots of money makes things cost more and reduces the dollar's value. Healthy inflation is beneficial. Historically, during our strongest economic periods, inflation hovers around 2%, which the fed aims for. This target indicates robust and st

Picture this: remember that big financial mess back in the day called the Great Financial Crisis (GFC)? Well, that totally changed how we see things in the money world. Back in the disco era (the 70s and 80s), interest rates were like a lazy river, just chilling at 1-3%. Then COVID came along, threw a tantrum, and rates started acting like a rollercoaster. It's been a bit of a shocker for us. Now, imagine this: some smarty-pants folks think that 4.3% interest rates for a 10-year loan is way too high, and they thought buyers would be lining up for cheaper deals. But guess what? When lots of folks are all betting on one thing, the market tends to flip the script on them. Think of it like this classic saying: "The market does the opposite just to make traders scratch their heads." But peek behind the scenes, and you'll see something funny. Big money managers (they're the ones playing with 10-year loans) really like high interest rates. The higher, the better, accor