Mark’s Market Update – 11/2/2022
FOMC UPDATE! The Fed bumped up short-term interest rates .75%
The Fed said that “ongoing increases” will likely be needed to bring rates to a level that is “sufficiently restrictive to return inflation to 2% over time.” This means that we’re seeing short-term interest rates at the highest level we’ve seen since 2008.
So – what does this mean?
Well – guess what – you’re gonna need to watch the video to find out.
ALSO – as an additional treat – please watch this (LONG) video (https://youtu.be/fSevjaRQXnU) – educate yourself. This is an interview with Barry Habib who is one of the most knowledgeable and trusted people in the mortgage-rate and housing world. He explains what’s going on with rates and housing to a degree that is, well, awesome.
Easy to understand. Easy to digest.