Ep. 8 - What Are Mortgage Rates Going to Do?
We've got two buyers right now. One says, "You know what? I'm going to back up and wait until rates get a little bit lower. We'll see what happens." And then we've got buyers that think, "Let's see what prices do. I think the prices are going to fall." If you’re one of those buyers, you need to have the right tools to make an informed decision. That’s why, in this episode, we're discussing mortgage interest rates and what's driving them. What’s going on behind the scenes? The future of the economy is up to what choices the Fed makes, but will they make the right calls? The wise are preparing.
So, let’s start by taking a high-level look at what's happening with mortgage and interest rates and how to navigate the current housing market.
[00:13 - 06:31] What's driving 30-year rate mortgages? Things you should be looking at
[06:32 - 12:55] These rate hikes are by design. The Federal Reserve has a specific goal in mind
[12:56 - 19:54] The Fed has to make one of two 'bad choices’
[19:54 - 25:44] Here’s the Fed's new playbook: keep raising rates at the risk of the global economy
[25:45 - 32:43] What buyers need to know to have the right tools in the housing market
[32:44 - 37:11] The future of higher housing prices
[37:12 - 41:30] You can’t time the market. Who you work with will help you make better decisions
Quotes:
"The news is not your friends. They tell you that there’s a direct correlation between the Fed funds rate and mortgage interest rates, and then the fear enters the market." - Quinton Harris
"Until something breaks, the Fed will keep raising rates.” - Daniel Halverson
“A little bit of good news on inflation will go a long way for mortgage rates.” - Daniel Halverson
“Who you’re working with as a realtor and the lender matters. That relationship not only gives you access to certain properties, it gets you timely information and current market strategies.” - Alex
Resources Mentioned:
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