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Hatkoff Real Estate Investments | Chatsworth, CA

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Why You Receive So Much Junk Mail After Closing On Your Home

January 31, 2023 by Brian Hatkoff

Why You Receive So Much Junk Mail After Closing On Your Home

Congratulations! You have finally closed on your home loan, and you are excited to get moved in. Or, you may have just refinanced your home. Regardless, all of a sudden, you start to get a bunch of junk mail in your mailbox. It can be frustrating to sort through everything, and how did they get your information in the first place? 

Where Junk Mailers Get Your Personal Information

First, there are a few locations where junk mailers may have gotten your personal information. Once your property deed is recorded, it goes into the public record. Anyone who goes into the public record can find your name, the name of your lender, your loan amount, and your address. This is what they use to send you junk mail, and it is why you get flooded with a bunch of mail as soon as you close on a home loan.

Always Check Your Mail Before Shredding It

Even though you are going to receive a lot of junk, some of it is going to have your personal information listed on it. You should always check to see if your personal information is printed on the mail, and if it is, go ahead and shred it. On the other hand, you must make sure you do not throw out anything important. For example, there might be a note about property taxes, or there might be information related to changes in your loan. Always screen your mail before you shred it.

Can You Stop The Junk Mail?

It is unlikely that you will be able to stop the junk mail completely. On the other hand, there are a few locations where you might be able to opt out of some of this junk mail. If you put yourself on the do not mail registry, you may be able to reduce the amount of junk mail you receive.

Talk To A Professional To Learn More

You need to understand exactly what is happening with your home loan before you close, and that is why you should reach out to an expert who can help you. They might even be able to provide you with some advice regarding how you can stop the junk mail from coming in.

Filed Under: Homeowner Tips Tagged With: Homeowner Tips, Junk Mail, Privacy

What’s Ahead For Mortgage Rates This Week – January 30, 2023

January 30, 2023 by Brian Hatkoff

What's Ahead For Mortgage Rates This Week - January 30, 2023Last week’s economic reporting included readings on new and pending home sales, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.

New home sales increase in December

The Commerce Department reported new home sales rose to a seasonally-adjusted annual pace of 616,000 sales in December as compared to the expected pace of 615,000  new homes sales and November’s revised reading of 602,000 annual sales. December was the third consecutive month that the pace of new home sales rose, but new home sales remained well below the 1.04 million sales peak reported in August 2020.

Pending home sales rose by 2.5 percent in December, which outpaced expectations of a one percent decrease in pending sales and November’s seasonally-adjusted annual decrease of  -2.6 percent in pending home sales. New home sales are 26.6 percent lower than they were one year ago.

Month-to-month inflation slows in December

The Commerce Department reported that month-to-month inflation rose by 0.1 percent in  December, which matched November’s month-to-month reading. Core inflation rose by 0.1 percent in December to 0.3 percent and matched analyst expectations. Core inflation readings exclude volatile food and fuel sectors that comprise major expenses for many U.S. households.

Year-over-year inflation rose by 5.0 percent in December as compared to November’s pace of 5.5 percent. Core inflation rose  4.4 percent in December, which matched analyst expectations, but fell short of November’s year-over-year reading of 4.7 percent for core inflation.

Mortgage rates, initial jobless claims fall

Freddie Mac reported lower average mortgage rates last week as the rate for 30-year fixed-rate mortgages fell by two basis points to 6.13 percent. The average rate for 15-year fixed-rate mortgages fell by 11 basis points to 5.17 percent.

First-time jobless claims fell to 186,000 filings as compared to the expected reading of 205,000 initial jobless claims and the previous week’s reading of 192,000 new jobless claims filed. Continuing jobless claims rose to 1.68 million ongoing claims as compared to the previous week’s reading of 1.66 million continuing jobless claims filed.

Consumer sentiment strengthens in January

The University of Michigan’s Consumer Sentiment Index rose to an index reading of 64.9 in January, which surpassed the expected reading of 64.6 and December’s final index reading of 64.6. Readings over 50 indicate that a majority of consumers surveyed have a positive outlook on the economy. Falling gasoline prices contributed to an improved consumer outlook, but grocery prices remained high.

What’s ahead

This week’s scheduled economic reporting includes readings on U.S. home prices, The Federal Reserve’s Federal Open Market Committee meeting, and Fed Chair Jerome Powell’s scheduled press conference. Labor-sector reports on job growth and the national unemployment rate will also be released.

Filed Under: Financial Reports Tagged With: Case Shiller, Financial Report, Jobless Claims

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Brian Hatkoff

Brian J. Hatkoff
CCIM, CRS

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