For agents hoping to make up some ground after a less-than-ideal spring market, the latest economic indicators don’t offer a lot of cheer. At the next Federal Open Market Committee (FOMC) meeting, taking place this week, Federal Reserve Chair Kevin Warsh will look to thread the needle between President Trump’s demands for lower interest rates and, well, economic reality.
EXTRA: Homebuyers’ rate relief slips further away after CPI
As it often does, the broader market already anticipates a rate hike, and mortgage markets appear to have already priced it in.
Welcome back to 7%: Mortgage rates hit highest level in 16 by AJ LaTrace
According to reporting from Mortgage News Daily, borrowers were already seeing mortgage rates hit 7 percent-plus by the middle of last week. That’s the highest they’ve been in more than a year and part of a bad news trifecta for buyers alongside still-escalating home prices and continuing inflation.
EXTRA: This week’s inflation data could decide the Fed’s next
Whether you’re working with buyers hamstrung by high interest rates or sellers who are seeing their buyer pool shrink with every increase, you need real-world advice and insights to help you get deals done. As always, Inman contributors offer plenty of that, so you can meet the market head-on.
What to do when seller timeline doesn’t match market
Sellers want speed, price and certainty — but a shrinking buyer pool can get in the way, Luke Babich writes. Here’s how to address the mismatch early.
How to orchestrate a bidding war for your real estate
Bidding wars don’t happen by accident, Christopher Watters writes. Learn how real estate agents use pricing, timing, marketing and offer management to create competition.
The appraisal gap: How top agents keep deals
Most appraisals don’t fail because of bad comps; they fail because of missing context. Troy Palmquist shares how listing agents can work with appraisers to support more accurate valuations (and protect the deal).
The Download is a column in which Inman’s Christy Murdock takes a deeper look at the top-read stories of the past week to give you what you’ll need to meet Monday head-on.
