The Markets Respond
We all know that you can’t fight the FED, but when the FED doesn’t do what people want them to do, the markets are the ones that respond! We spoke a couple of weeks ago about wishing certain people would just keep their mouths shut until AFTER certain actions do or don’t happen. However, we got to see what happens when people get too far out in front of a story, or just downright say things that aren’t true. Here are a few issues that were front and center.
- The FED didn’t cut rates.
- Inflation isn’t going lower.
- Most of the jobs created were part-time jobs.
- The actual number of full-time workers has gone down.
- Mortgage rates didn’t go to 5% in March.
- Home prices continue to rise.
- What happens when CPI/PPI show stress and your leadership says “Don’t” and they DO?
- The NAR agreement has yet to be signed off on by a judge.
- While some of the mortgage agencies have made their voice heard on what happens when seller’s pay buyer’s agents, there are still some that have yet to weigh in.
- Let’s not even get started with 50 states having to approve disclosures, listing agreements, and buyer agency contract language, and get it done by July!
That said, people are still buying houses and taking mortgage loans to do it. Mortgage rates are still lower than historical averages and in some parts of the country we are seeing the return of multiple offers and offers well over list price to secure the deal. It’s important to stay on top of the FACTS of the matter and be prepared to execute your success strategies because it's helping people navigate the process that gets you paid!
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