The CPI report came out on Wednesday and was a very mixed bag of information and an ongoing mixed reaction from the markets. We saw many numbers that were certainly in line with market expectations, but we also saw numbers that show that inflation continues to be stubborn! So far, most believe that the FED will cut rates another 25-bps next week but lower the projections on the number and size of rate cuts in 2025. I personally think that the markets are still a little stunned at the assassination of United Healthcare’s CEO and the almost cult-like reaction of those who are supportive of the alleged assassin.
On Thursday we got further data from PPI, initial and continuing jobless claims, as well as a 30-year treasury bond auction in the afternoon. Any or all of these could push the markets one way or the other and could influence the FED decision this week.
It’s been an interesting look at the housing market since Thanksgiving; some areas are seeing solid activity levels and others seem more subdued. My belief is that those who are working, calling, and connecting with people are seeing good activity. While those that aren’t connecting aren’t. Maybe it’s just a coincidence?
For those who still have files to close at the end of this year, please be sure to confirm you have everything you need for those closings! The closer we get to Christmas, the tougher it will be to get last-minute documentation or to be able to make changes!
Final note, be sure you are connecting with all your preapprovals, referral partners, and coworkers to be certain of schedules and to share opportunities! Any buyer who wants to see property in December is a motivated buyer, and a seller who will show their property in December is a motivated seller! When we connect a motivated buyer and a motivated seller, we tend to put together a great deal for everyone!
Questions or comments:
