September 2024

Hello everyone,

As always, I am happy to write to you in hopes that I will inspire you to think and possibly to move forward toward accomplishing your dreams. Whatever dreams you may have, “Everyday is a good day to buy and sell real estate”.

I will be brief because I do not want to become political and force my political views on anyone.

Mortgage interest rates seem to be in a small up and down trend right now because of the FED’s recent announcement to lower rates which had the opposite effect on mortgage rates. Lenders had already started lower rates in anticipation of the FED’s rate cut that was inevitably going to happen in September of this year. Even so, now the rates were not cut as much as anticipated, therefore, lenders started pushing mortgage rates back up a little. Now we are currently at or just below 6%. I still believe that the 6% mortgage rate is the normal rate now.

As we all know, the economy has not been so great, even though the FED cut interest rates because they seem to have data that shows the economy is getting better than it used to be, but I am not so sure that we the people can even tell the difference in the state of the economy right now. My opinion is that inflation slowly drains you over time to the point when you finally realize what happened.
There will be more potentially important economic data on Friday, 10-4-24, of this week, having the biggest impact, which is the JOB’s report. Have you heard of any layoffs or businesses closing lately?