The big news that everyone was expecting this week ended up being pretty non-eventful. The CPI data showed inflation is continuing to slow down, and the Federal Reserve hiked rates by .50%. All this was expected, and the market responded favorably closing near a 3 month low for mortgage rates!
For the housing market, the worst may truly be behind us! As the economy continues to slow down and inflation drops to acceptable levels, monetary policy will start to loosen up. It may be months, but many analysts are saying the 5% mortgage rates and lower are in our future. I truly hope you have a blessed holiday season full of love and rest. We are very fortunate to live and work in such a beautiful part of the country, helping others as our profession. I hope that we all see many years of continued blessing together.
Merry Christmas!
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