|
Happy Christmas and Merry Holiday to all the beautiful people reading this newsletter.
I wish a ton of LOVE & JOY to you and your families today and everyday.
Thank you for being here.
A couple real estate items as we head towards the end of 2024. We broke our positive mortgage application streak with a -0.7% decline last week. This is not surprising given the reaction from last week's FOMC meeting where Mr. Powell decreased the fed funds rate another .25 bps, but the 2025 projections decreased significantly. This means The Fed is not projecting as many cuts in 2025 as the market expected, which is why the 10yr yield rocketed higher sending 30yr rates with it. This isn't the ideal scenario, but we'll keep an eye on everything and adjust as needed accordingly.
|
