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Is the Fed Cutting Mortgage Rates?
I think that mortgage rates get to 5% by mid-year around there. I don't think the Fed cuts rates for a while, but I think long in the market will come down. As yields on the 10 year continue to come down, we'll get to a normal spread. And then we're going to unleash a horde of buyers on a super light inventory environment. That's going to create a lot of pressure.