Jerome Powell
Those hoping to see home prices calm down got a rude awakening last week when the National Association of Realtors clocked record-high listings for June. Nationally, the median sales price for existing homes hit $435,300, marking a 2% increase for the month year-over-year. Meanwhile, the sale of existing homes dipped by 2.7% between May and…
The Federal Reserve’s decision to refrain from issuing an interest rate cut on Wednesday could have a dampening effect on CRE activity, with industry professionals already finding it difficult to secure financing for high-dollar deals. Fed Chair Jerome Powell said the central bank was going to maintain its current target range of 4.25-4.5%, citing projections…
By Ryan Casey Stephens, FPQP®Special Contributor Welcome to another week, one that is already a mixed bag of good and bad. On the one hand, the average 30-year fixed rate just hit its highest level since the 2008 financial crisis, and at a time when we expected rates to drop. At the same time, inflation…
By Ryan Casey Stephens, FPQP®Special Contributor Our weekly piece is back after a short hiatus, and the timing couldn’t be better. Markets have lost their minds and inflation, the Fed, and mortgage rates seem upside down. As rough as things seem, the consensus remains that improvement is coming. Markets also have a way of turning…
By Ryan Casey Stephens, FPQP®Special Contributor Famous NSYNC member, Justin Timberlake, once sang, “It’s gonna be May.” Well, he didn’t sing that exact lyric, but I love a good internet meme. And while that song line might not be real, there’s a good chance that it’s gonna be May: the month that might finally bring…
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