August 13, 2025 • 11 mins
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Get the stories from today's show in THE STACK: https://justinbarclay.com
Join Justin in the MAHA revolution - http://HealthWithJustin.com
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New gear is here! Check out the latest in the Justin Store: https://justinbarclay.com/store
Kirk Elliott PHD - FREE consultation on wealth conservation - http://GoldWithJustin.com
Try Cue Streaming for just $2 / day and help support the good guys https://justinbarclay.com/cue
Up to 80% OFF! Use promo code JUSTIN http://MyPillow.com/Justin
Patriots are making the Switch! What if we could start voting with our dollars too? http://SwitchWithJustin.com
Get the stories from today's show in THE STACK: https://justinbarclay.com
Kirk Elliott PHD - FREE consultation on wealth conservation - http://GoldWithJustin.com
Join Justin in the MAHA revolution - http://HealthWithJustin.com
Try Cue Streaming for just $2 / day and help support the good guys https://justinbarclay.com/cue
Up to 80% OFF! Use promo code JUSTIN http://MyPillow.com/Justin
Patriots are making the Switch! What if we could start voting with our dollars too? http://SwitchWithJustin.com
Get the stories from today's show in THE STACK: https://justinbarclay.com
Join Justin in the MAHA revolution - http://HealthWithJustin.com
ProTech Heating and Cooling - http://ProTechGR.com
New gear is here! Check out the latest in the Justin Store: https://justinbarclay.com/store
Kirk Elliott PHD - FREE consultation on wealth conservation - http://GoldWithJustin.com
Try Cue Streaming for just $2 / day and help support the good guys https://justinbarclay.com/cue
Up to 80% OFF! Use promo code JUSTIN http://MyPillow.com/Justin
Patriots are making the Switch! What if we could start voting with our dollars too? http://SwitchWithJustin.com
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
And I think the trader's thinking about that September rate
cut from the Fed, which looks like it's getting closer
every moment now, especially with these numbers coming out. They've
got away from Harlot Home Mortgages here to talk about
that rate cuts, specifically the CPI numbers, what it means,
(00:20):
and actually there's some big surprises, some things previews of
those rate cuts you may want to know about, at
least from what I've heard. Dave, Welcome and appreciate you
being here with us today.
Speaker 2 (00:30):
Thanks for having me, my friend.
Speaker 1 (00:32):
So this is big news, and you know, I know
you may not want to get necessarily into the weeds
of the politics of it. But at the media and
the talking heads and the experts, it doubted it, doubted it,
doubted it. Here we go. We're in another scenario, another
situation where the experts were wrong again. Trumpet looks like
the big news the headline of the CPI to me
more than anything, not just the numbers, because that was great,
(00:55):
but it shows really that the terriffs aren't really impacting,
at least for now. The way that so many were
screaming chicken a little like the sky was going to
be falling. And that also shows us again where they
were already talking about a September rate cut from the FED,
that it looks like even more so that that's going
to be a fact now, is that what your tickets?
Speaker 3 (01:18):
Yeah, we've been speaking for a while now how Powell's
been slow to the game and how we feel that
there's probably a heavily influenced of you know, politics and
maybe a back and forth personal you know things going
into play, not just so much looking at data and
letting that drive the decision. So yeah, very much. We're
excited to see where these numbers continue to go. And
(01:41):
you know what we're seeing even from some of our investors,
they're already pricing in special you know, to be ahead
of the FED rate drop as they've dropped rates pretty
significantly for rate and term refinances and purchases, so we're
already seeing that pop into play some cheaper money.
Speaker 2 (01:59):
So definitely good.
Speaker 1 (02:00):
Things true, late Palell, he took to truth yesterday social
and Trump talking about him and again like that, as
you just mentioned that that's sort of mantra now that
they cash this guy's just too late to the party
always and it's time to move. So that being said
(02:21):
rate cut already, they were already talking about this for
a while. Now that September, what do you think is
going to happen? What are they forecasting? What are we
looking at for September?
Speaker 2 (02:30):
I think the most recent I don't have a number
for September.
Speaker 3 (02:33):
If I had a guess, I would guess if he's
if he's playing his cards right, he would do at
least a half point drop in September. And they're still
projecting more and more. People are projecting three more drops
after that. And even Jamie Diamond, you know, the head
of Chase, has finally come on board and said, yeah,
the the you know, the tariffs are a good thing
and they're not having a negative effect on inflation. So
(02:55):
when you get that that, you know, big of a
head in there supporting it, I think that's gonna, you know.
Speaker 2 (03:00):
Have some influence.
Speaker 1 (03:02):
So what's that mean for us? You know, we're watching
all this play out, you me, and the average shows
like we saw in the CPI, you know, cost of
certain things had gone up and the cost of other
things had gone down, and so it really largely kept
everything pretty close to flat month over month, up a
(03:22):
little bit over the last year. But for the most part,
those those were all sort of lower than they expected
them to be, and they expected them to be pretty
well all higher and because of the tariffs, So when
we're talking about, you know, gases, it looks like that
was a big part of this, so that gas and
(03:43):
oil prices had come down and that was helping folks energy.
I know, that's not my consumer's energy bill, because that
thing is shot through the roof this this summer. But
it's what you're talking about, really is easing the pain
for people that they're going through right now on a
monthly basis, And how can that you know, how can
(04:06):
those rit maybe those cuts and whatnot help actually in
that process.
Speaker 3 (04:12):
Yeah, I mean, depending on the loan size, even a
one percent rate drop can save you a significant amount
of money per month and usually makes sense if your
loan amounts over you know, two twenty five, two hundred
and fifty thousand, which most of them nowadays are. We're
seeing the values continued increase. So from July of twenty
fourth through July of twenty five, I think Kent County
had a four point five percent increase in home prices.
(04:35):
So we're seeing the home prices still moving in the
right direction. I would say if you're looking at buying,
having that low rate right now, it puts you in
a really good situation as we end the second half
of the year. The competition on maybe the second tier homes,
not you know, starter homes. Starter homes are under heavy
competition because they're just s earn enough of them.
Speaker 2 (04:54):
But if you're looking.
Speaker 3 (04:55):
At that second tier home, a lot of people are
looking to get families and houses in school districts by
the you know, middle of the summer. So I think
as we head to the second half of the year,
with lower interest rates and probably how a market slowing
a little bit, it puts you in a really good
situation to buy. If you're looking for that second you know,
that second tierhouse, you're looking to move up into something bigger.
Speaker 1 (05:15):
So uh, you know, I I where where does that
put us? Because you know, one of the things that
I know that has kept people from from moving for
a while has been they've had some great rates. You know,
I'm locked in at a really low rate. Who knows
what it takes to get me to move at some point.
But there's some people that didn't didn't get locked in.
(05:36):
They may be not only thinking about moving, as you mentioned,
but maybe refinancing. What does it put them.
Speaker 3 (05:42):
Yeah, I mean a lot of people closed on buying
a home in the last three years and race were
in the high sixes and sevens and maybe even eight.
So now is a really good time to take a
look at at your options as far as saving you
money per month. And like you said a million times
on the show, if the benefit isn't there, we're going
to tell you that. But we've also project the rates
to maybe trend down going forward. So if it isn't
(06:04):
quite there, that makes sense. Right now, you're in our
system and you know, we'll keep an eye on it.
We always are watching rates from a you know, we
have kind of a list there people that are have
a higher rate that we got. You know, once the
rates hit a certain point we get we reach out
to him and say, hey, now's the time. Also, if
that equity is there where you can pull some cash.
I mean, look at your credit card statements, I mean,
what are you talking twenty seven percent interest on some
(06:26):
of those things.
Speaker 2 (06:28):
So credit cards, car loans, there's still a lot.
Speaker 3 (06:30):
Of equity you can use to increase, you know, help
your monthly budget.
Speaker 1 (06:34):
Hey, speaking of wedge home equity line of credit. We've
done this with you guys. Lots of folks maybe in
that boat right now where they're trying to consolidate, bring
some credit card debt down, things like that. What what
what are you doing right now?
Speaker 2 (06:49):
What are you hearing?
Speaker 1 (06:49):
And what can people do if they want to take
a look. I've got a friend right now is just
talking about he's got something specific that he's got to do,
a project that he's working on and and ask me
about it. So when I got the guy for you,
tell us about that, Dave.
Speaker 3 (07:05):
Yeah, I mean they're you know, basically you're going to
be able to get up to ninety percent of what
the value of your home is. Most of the time
people are not going to that point. It's almost all
of these do not require an appraisal, and so it's
a pretty easy, pretty easy process to look at and
see what somebody would qualify for. And it's just a
you know, extra line of credit even if you're not
going to use at all. Usually you want to have
(07:27):
that cushion just in case there's a project you want
to do, and you're right, if somebody's at two point
seventy five percent.
Speaker 2 (07:32):
You don't want to.
Speaker 3 (07:33):
You don't want to, you know, bail on that just
to get maybe an extra thirty forty grand to put
on a roof or build a polebarn or whatever the
project may be.
Speaker 2 (07:39):
But I will say, anybody that is that has.
Speaker 3 (07:42):
You know, that really low rate and they're in a
house they necessarily don't want to be in anymore, it's
a great time to become a landlord. I mean, if
you if you have that money at that really cheap rate,
rental demands are still high, so you could potentially let
that become an asset for you and pay you every month.
Speaker 1 (08:00):
Galloway Heartland Home Mortgage HHM lending dot com is the
website again. Big news coming out to fed too late,
jeromp now again President Trump making that point as the
CPI numbers came out. Here's more. I think there's a
CNBC the other day where they actually had to admit
it again, experts were wrong when it came to inflation.
Speaker 4 (08:23):
I can tell you that we're very happy to see
that inflation continues to be well behaved. Since the President
took office in February, inflation has been running CPI inflation
has been running at a one point nine percent annualized rate,
which is a totally normal pattern of behavior for inflation
and for prices. And as you pointed out, you know, look,
there's just still continues to be no evidence whatsoever of
any teriff induced inflation. I think lots of folks who
(08:45):
are expecting that, who are predicting doom and you know,
doom and gloom. It just hasn't panned out, and it
continues to not pan out for them.
Speaker 1 (08:51):
What a story. And again things are looks like moving
in the next month or so, Dave, I know you've
been keeping an eye on this. What should folks do,
no matter whether they want to buy, refine home equity,
line of credit, or maybe they're just trying to keep
an eye on this as a whole. What are their
next steps? What do you recommend?
Speaker 2 (09:11):
Yeah, just reach out and check the numbers.
Speaker 3 (09:13):
Just reach out to one of our loan officers, talk
with them, get a you know, get a copy of
your mortgage billing statement. Say hey, here's where I'm at
right now, what makes sense? What options are out there?
We don't charge anybody to do that. We take a
free look at it. One thing I do want to
touch on Justin is some great news came out from legislation.
The House and Senate have passed it and it's just
waiting on the President's desk. But if you've applied for
(09:34):
a mortgage or a car loan and you all of
a sudden, within a few minutes of your credit being pulled,
you got barraged by a million phone calls, Well, they've
just passed legislation to stop what's called it. They're called
credit trigger leads, and so they would sell your information,
the credit reporting agencies would sell your information to other
companies and tell them, hey, this person just had their
(09:54):
credit pulled for a mortgage. Within six months. Once the
President signs it into law, that's going to be done
in six months. So the only people that can get
a hold of you your current servicer, somebody you've had
a banking relationship with, or if you've closed the broker.
So it's going to be a great thing to eliminate
those pesky calls every you know, twenty of them within
minutes of your credit being pulled, and if somebody wants
(10:16):
to stop that now, we also have access to an
opt out website where you can opt out of those
credit triggers even before that six months, so definitely good
news for people that don't want that. Rather peski, you know,
a million calls and texts coming.
Speaker 1 (10:31):
In Heartland Home Mortgage. HHM lending dot com is the website.
Dave Galloway our good friend, and of course if you've
got questions, reach out, but wanted to definitely have you
on Dave to talk about particularly the CPI, the fed
Ray cut and where things are going from here. Bottom
line is if you if you had questions, give Dave
(10:53):
a call and see what they can do for you
number eight seven seven three five zero zero zero zero
seven and I give out the toll free because they
are in Michigan and Florida. So if you're listening, maybe
not just live here on the radio, maybe on the
iHeartRadio app or on the stream wherever we're at, you
(11:13):
may be able to work with day whether you're in
Michigan or Florida, both places opportunities to do that. So
HHM lending dot Com there it is hm lending dot com.
We get him back. We'll bring him back for you.
Thank you so much for taking the time. Dave always
And I think the trader's thinking about that September rate
cut from the Fed, which looks like it's getting closer
every moment now, especially with these numbers coming out. They've
got away from Harlot Home Mortgages here to talk about
that rate cuts, specifically the CPI numbers, what it means,
(00:20):
and actually there's some big surprises, some things previews of
those rate cuts you may want to know about, at
least from what I've heard. Dave, Welcome and appreciate you
being here with us today.
Speaker 2 (00:30):
Thanks for having me, my friend.
Speaker 1 (00:32):
So this is big news, and you know, I know
you may not want to get necessarily into the weeds
of the politics of it. But at the media and
the talking heads and the experts, it doubted it, doubted it,
doubted it. Here we go. We're in another scenario, another
situation where the experts were wrong again. Trumpet looks like
the big news the headline of the CPI to me
more than anything, not just the numbers, because that was great,
(00:55):
but it shows really that the terriffs aren't really impacting,
at least for now. The way that so many were
screaming chicken a little like the sky was going to
be falling. And that also shows us again where they
were already talking about a September rate cut from the FED,
that it looks like even more so that that's going
to be a fact now, is that what your tickets?
Speaker 3 (01:18):
Yeah, we've been speaking for a while now how Powell's
been slow to the game and how we feel that
there's probably a heavily influenced of you know, politics and
maybe a back and forth personal you know things going
into play, not just so much looking at data and
letting that drive the decision. So yeah, very much. We're
excited to see where these numbers continue to go. And
(01:41):
you know what we're seeing even from some of our investors,
they're already pricing in special you know, to be ahead
of the FED rate drop as they've dropped rates pretty
significantly for rate and term refinances and purchases, so we're
already seeing that pop into play some cheaper money.
Speaker 2 (01:59):
So definitely good.
Speaker 1 (02:00):
Things true, late Palell, he took to truth yesterday social
and Trump talking about him and again like that, as
you just mentioned that that's sort of mantra now that
they cash this guy's just too late to the party
always and it's time to move. So that being said
(02:21):
rate cut already, they were already talking about this for
a while. Now that September, what do you think is
going to happen? What are they forecasting? What are we
looking at for September?
Speaker 2 (02:30):
I think the most recent I don't have a number
for September.
Speaker 3 (02:33):
If I had a guess, I would guess if he's
if he's playing his cards right, he would do at
least a half point drop in September. And they're still
projecting more and more. People are projecting three more drops
after that. And even Jamie Diamond, you know, the head
of Chase, has finally come on board and said, yeah,
the the you know, the tariffs are a good thing
and they're not having a negative effect on inflation. So
(02:55):
when you get that that, you know, big of a
head in there supporting it, I think that's gonna, you know.
Speaker 2 (03:00):
Have some influence.
Speaker 1 (03:02):
So what's that mean for us? You know, we're watching
all this play out, you me, and the average shows
like we saw in the CPI, you know, cost of
certain things had gone up and the cost of other
things had gone down, and so it really largely kept
everything pretty close to flat month over month, up a
(03:22):
little bit over the last year. But for the most part,
those those were all sort of lower than they expected
them to be, and they expected them to be pretty
well all higher and because of the tariffs, So when
we're talking about, you know, gases, it looks like that
was a big part of this, so that gas and
(03:43):
oil prices had come down and that was helping folks energy.
I know, that's not my consumer's energy bill, because that
thing is shot through the roof this this summer. But
it's what you're talking about, really is easing the pain
for people that they're going through right now on a
monthly basis, And how can that you know, how can
(04:06):
those rit maybe those cuts and whatnot help actually in
that process.
Speaker 3 (04:12):
Yeah, I mean, depending on the loan size, even a
one percent rate drop can save you a significant amount
of money per month and usually makes sense if your
loan amounts over you know, two twenty five, two hundred
and fifty thousand, which most of them nowadays are. We're
seeing the values continued increase. So from July of twenty
fourth through July of twenty five, I think Kent County
had a four point five percent increase in home prices.
(04:35):
So we're seeing the home prices still moving in the
right direction. I would say if you're looking at buying,
having that low rate right now, it puts you in
a really good situation as we end the second half
of the year. The competition on maybe the second tier homes,
not you know, starter homes. Starter homes are under heavy
competition because they're just s earn enough of them.
Speaker 2 (04:54):
But if you're looking.
Speaker 3 (04:55):
At that second tier home, a lot of people are
looking to get families and houses in school districts by
the you know, middle of the summer. So I think
as we head to the second half of the year,
with lower interest rates and probably how a market slowing
a little bit, it puts you in a really good
situation to buy. If you're looking for that second you know,
that second tierhouse, you're looking to move up into something bigger.
Speaker 1 (05:15):
So uh, you know, I I where where does that
put us? Because you know, one of the things that
I know that has kept people from from moving for
a while has been they've had some great rates. You know,
I'm locked in at a really low rate. Who knows
what it takes to get me to move at some point.
But there's some people that didn't didn't get locked in.
(05:36):
They may be not only thinking about moving, as you mentioned,
but maybe refinancing. What does it put them.
Speaker 3 (05:42):
Yeah, I mean a lot of people closed on buying
a home in the last three years and race were
in the high sixes and sevens and maybe even eight.
So now is a really good time to take a
look at at your options as far as saving you
money per month. And like you said a million times
on the show, if the benefit isn't there, we're going
to tell you that. But we've also project the rates
to maybe trend down going forward. So if it isn't
(06:04):
quite there, that makes sense. Right now, you're in our
system and you know, we'll keep an eye on it.
We always are watching rates from a you know, we
have kind of a list there people that are have
a higher rate that we got. You know, once the
rates hit a certain point we get we reach out
to him and say, hey, now's the time. Also, if
that equity is there where you can pull some cash.
I mean, look at your credit card statements, I mean,
what are you talking twenty seven percent interest on some
(06:26):
of those things.
Speaker 2 (06:28):
So credit cards, car loans, there's still a lot.
Speaker 3 (06:30):
Of equity you can use to increase, you know, help
your monthly budget.
Speaker 1 (06:34):
Hey, speaking of wedge home equity line of credit. We've
done this with you guys. Lots of folks maybe in
that boat right now where they're trying to consolidate, bring
some credit card debt down, things like that. What what
what are you doing right now?
Speaker 2 (06:49):
What are you hearing?
Speaker 1 (06:49):
And what can people do if they want to take
a look. I've got a friend right now is just
talking about he's got something specific that he's got to do,
a project that he's working on and and ask me
about it. So when I got the guy for you,
tell us about that, Dave.
Speaker 3 (07:05):
Yeah, I mean they're you know, basically you're going to
be able to get up to ninety percent of what
the value of your home is. Most of the time
people are not going to that point. It's almost all
of these do not require an appraisal, and so it's
a pretty easy, pretty easy process to look at and
see what somebody would qualify for. And it's just a
you know, extra line of credit even if you're not
going to use at all. Usually you want to have
(07:27):
that cushion just in case there's a project you want
to do, and you're right, if somebody's at two point
seventy five percent.
Speaker 2 (07:32):
You don't want to.
Speaker 3 (07:33):
You don't want to, you know, bail on that just
to get maybe an extra thirty forty grand to put
on a roof or build a polebarn or whatever the
project may be.
Speaker 2 (07:39):
But I will say, anybody that is that has.
Speaker 3 (07:42):
You know, that really low rate and they're in a
house they necessarily don't want to be in anymore, it's
a great time to become a landlord. I mean, if
you if you have that money at that really cheap rate,
rental demands are still high, so you could potentially let
that become an asset for you and pay you every month.
Speaker 1 (08:00):
Galloway Heartland Home Mortgage HHM lending dot com is the
website again. Big news coming out to fed too late,
jeromp now again President Trump making that point as the
CPI numbers came out. Here's more. I think there's a
CNBC the other day where they actually had to admit
it again, experts were wrong when it came to inflation.
Speaker 4 (08:23):
I can tell you that we're very happy to see
that inflation continues to be well behaved. Since the President
took office in February, inflation has been running CPI inflation
has been running at a one point nine percent annualized rate,
which is a totally normal pattern of behavior for inflation
and for prices. And as you pointed out, you know, look,
there's just still continues to be no evidence whatsoever of
any teriff induced inflation. I think lots of folks who
(08:45):
are expecting that, who are predicting doom and you know,
doom and gloom. It just hasn't panned out, and it
continues to not pan out for them.
Speaker 1 (08:51):
What a story. And again things are looks like moving
in the next month or so, Dave, I know you've
been keeping an eye on this. What should folks do,
no matter whether they want to buy, refine home equity,
line of credit, or maybe they're just trying to keep
an eye on this as a whole. What are their
next steps? What do you recommend?
Speaker 2 (09:11):
Yeah, just reach out and check the numbers.
Speaker 3 (09:13):
Just reach out to one of our loan officers, talk
with them, get a you know, get a copy of
your mortgage billing statement. Say hey, here's where I'm at
right now, what makes sense? What options are out there?
We don't charge anybody to do that. We take a
free look at it. One thing I do want to
touch on Justin is some great news came out from legislation.
The House and Senate have passed it and it's just
waiting on the President's desk. But if you've applied for
(09:34):
a mortgage or a car loan and you all of
a sudden, within a few minutes of your credit being pulled,
you got barraged by a million phone calls, Well, they've
just passed legislation to stop what's called it. They're called
credit trigger leads, and so they would sell your information,
the credit reporting agencies would sell your information to other
companies and tell them, hey, this person just had their
(09:54):
credit pulled for a mortgage. Within six months. Once the
President signs it into law, that's going to be done
in six months. So the only people that can get
a hold of you your current servicer, somebody you've had
a banking relationship with, or if you've closed the broker.
So it's going to be a great thing to eliminate
those pesky calls every you know, twenty of them within
minutes of your credit being pulled, and if somebody wants
(10:16):
to stop that now, we also have access to an
opt out website where you can opt out of those
credit triggers even before that six months, so definitely good
news for people that don't want that. Rather peski, you know,
a million calls and texts coming.
Speaker 1 (10:31):
In Heartland Home Mortgage. HHM lending dot com is the website.
Dave Galloway our good friend, and of course if you've
got questions, reach out, but wanted to definitely have you
on Dave to talk about particularly the CPI, the fed
Ray cut and where things are going from here. Bottom
line is if you if you had questions, give Dave
(10:53):
a call and see what they can do for you
number eight seven seven three five zero zero zero zero
seven and I give out the toll free because they
are in Michigan and Florida. So if you're listening, maybe
not just live here on the radio, maybe on the
iHeartRadio app or on the stream wherever we're at, you
(11:13):
may be able to work with day whether you're in
Michigan or Florida, both places opportunities to do that. So
HHM lending dot Com there it is hm lending dot com.
We get him back. We'll bring him back for you.
Thank you so much for taking the time. Dave always
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Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.