It was a rather quiet week in mortgage news but the start of the second quarter is heating up. Big jobs numbers this week. Additionally we have an opportunity for a free webinar on the NAR settlement this Wednesday. MAKE SURE YOU CHECK IT OUT!

Last week, Jerome Powell and the Fed held their March meeting and HELD the Fed Funds Rate. He did confirm that he expects 3 cuts this year. Also, more and more housing experts weighed the big NAR announcement. Read about the good news and the bad news. Lastly, the “lock-in effect” may be thorn in our sides for a while longer.

Last week, the NAR reached an agreement that involved settling for a significantly reduced amount but made some additional changes that will change the very landscape of the US housing market as we know it. Additionally, we discuss the latest round of inflation data.

Last week President Biden outlined a proposal with ideas on helping the housing industry in his State of the Union and there was another scorching jobs report. How did these affect the industry as a whole?

Mortgage rates saw some relief late last week from the PCE inflation report. This week, all eyes are on Powell’s testimony in front of the House and Senate as well as the big jobs report on Friday. Lastly, there is a surprising tidal wave of inventory that will start coming onto the market during the next 10 years.

Zillow adjusts their home appreciation estimate again (hint, it’s even higher than before). We also share one of the more valuable realtor cheat sheets we’ve ever composed. Let us help you become an expert in the eyes of your customers.

Rates took a beating last week, again. The markets are predicting fewer and fewer rate cuts as economic data comes in showing massive resiliency.

It was a rather boring week but the Richmond Federal Reserve President Tom Barkin was interviewed by Barron’s suggesting patience is needed with these rate cuts. 2024 is off to a stronger start than 2023, but why? Lastly, we share an unpopular opinion from a $500M realtor!

In this week’s update we talk about the gut punch mortgage rates received last week. It’s likely just a small correction after they dropped significantly the week before. We also dig a little deeper on the job market to see if it’s truly on fire.

The biggest week of market-moving news is ahead of us. It's all about the jobs and the Fed's first interest rate meeting of the year. I also look under the covers of the US job data to see if it's as rosy as we think it is.