Let me explain why mortgage rates have creeped higher (albeit very small) since the Fed announced their rate cut in mid-September. Also, can a slowdown in China actually help the US housing market? Yup! Lastly, we have the big jobs report on Friday. Should be fun 🎆

Welcome to the next chapter in the housing market. It finally feels like we have a tailwind at our backs. Those who have stuck around, your resilience will pay off. Also, there is a lot of misinformation on social media about the rate cut last week. Let me help you cut through the noise and I've included a script to follow when re-engaging with clients on the fence.

It's Fed week! What's Jerome Powell gonna do? 25bps cut? Maybe 50bps? Ohio has also been named #1 for job creation. It's all about location, location, location! Lastly, as if you didn't already know, it's best to ignore the mainstream media. They've been hating on the housing industry for far too long and they are always wrong.

Is your spider sense tingling like mine? A tide may be turning in the housing market sooner rather than later. The Fed started hiking rates in September 2021. Three years later, we are on the cusp of an announcement of their first official rate CUT. That may be the catalyst necessary to propel the housing market into a new cycle, stimulating more home buying. Who’s ready?!

From the mouth of the Federal Reserve Chair 🗣️ "The time has come for policy to adjust." It's no longer a question of if the rate cuts come, it's a matter of what magnitude are the cuts. Are we going to see 25bps in September or will we see 50bps? Existing home sales have likely bottomed. Rejoice! Brighter days are ahead!

We have officially made it through the first weekend implementing the new buyer/broker agreements. Congratulations! Not so bad after all 🙌🙌

We are less than a week away from the implementation of the NAR settlement. On a scale of 1-10, how prepared are you? If you procrastinated, jump into this week's update for all the last-minute guidance. There is continued mass exodus from major metro areas in the northeast and west coasts. The biggest beneficiary for two quarters straight is Columbus, OH 🙌

Last week was one for the record books and it feels like the volatility has only just begun. Fed signals rate cuts at their Wednesday meeting. Jobs report disappoints for the first time in I don't know how long. Unemployment jumps to 4.3%. Bank of Japan rocks the global economy. Phew! Hold on tight...

Tide is starting to shift as buyers start to gain more leverage in a slowing housing market. Are appraisal gaps, bidding wars and waiving home inspections a thing of the past? Rate and term refinances may not make up a bulk of the next refinance boom, but what will? We are already starting to see how the NAR settlement is going to play out and it can be navigated only with a massive amount of open communication between all parties. Lastly, we've been building to this week. Lots of major data points coming out that you need to pay attention to.

Markets have priced in a 25bps rate cut in September with a 98% probability. A lot has changed in July. At one point we thought 6-7 rate cuts, now the markets are thinking at least 1, maybe 2. I am still in the camp that cutting now could have longer-term effects that we can't afford...literally. Additionally, we don't have a firm idea of Democratic nominee at this time now that President Biden will not seek re-election, however, Republican nominee Donald Trump gave an interview with some key implications for the housing market. Find out what his re-election might mean to us.