Byron Lazine, Tom Toole, and special guest Lisa Chinatti discuss the return of 7% mortgage rates, persistently low inventory, and the mortgage rates forecast. They also weigh in on whether the Fed screwed up and made things worse.
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Timestamps:
00:00–00:36 Intro
00:36 Mortgage rates at 7%
01:54 “You are in the business of information”
04:16 Refi rule of thumb
13:17 What to tell buyers thinking about taking a break from home shopping
16:12 Multiple offers are back
17:34 Activity always breeds activity
21:54 Baby Boomers and condo owners
31:49 Pain points are what cause people to move
33:08 Has the Fed screwed up?
37:32 More people expecting a rate hike of 50 bps
39:19 Scripts for lockbox communities
47:10 How are you changing your approach in 2023 to win more listings?
Show Resources:
https://www.housingwire.com/articles/the-7-mortgage-is-back-with-a-vengeance/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXZNOASUT0V6#cxrecs_s
https://www.housingwire.com/articles/real-estate-agents-wonder-if-inventory-levels-will-ever-return-to-normal/
https://www.bankrate.com/mortgages/will-mortgage-rates-go-up-in-march-2023/#spread
https://finance.yahoo.com/news/fed-screwed-real-estate-billionaire-153000335.html
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
#interestrates #housingmarket2023 #interestratehike
