Jon Grauman

I don't know that I could pick because it's such, I don't know I can make that generalization across so many different markets across such a large country. I would say that in general, though, the housing market's just kind of stuck in neutral at the moment. We've seen the first rate cut, which is great. The fever broke, right? At least like that part's behind us.

I don't know that I could pick because it's such, I don't know I can make that generalization across so many different markets across such a large country. I would say that in general, though, the housing market's just kind of stuck in neutral at the moment. We've seen the first rate cut, which is great. The fever broke, right? At least like that part's behind us.

I don't know that I could pick because it's such, I don't know I can make that generalization across so many different markets across such a large country. I would say that in general, though, the housing market's just kind of stuck in neutral at the moment. We've seen the first rate cut, which is great. The fever broke, right? At least like that part's behind us.

It hasn't really had any meaningful impact on mortgage interest rates, right? So it hasn't offered that impact. affordability that people are looking for to be able to start coming off the sidelines and reengaging. And mostly it's just this palpable sense of hesitation and uncertainty in face of the upcoming election.

It hasn't really had any meaningful impact on mortgage interest rates, right? So it hasn't offered that impact. affordability that people are looking for to be able to start coming off the sidelines and reengaging. And mostly it's just this palpable sense of hesitation and uncertainty in face of the upcoming election.

It hasn't really had any meaningful impact on mortgage interest rates, right? So it hasn't offered that impact. affordability that people are looking for to be able to start coming off the sidelines and reengaging. And mostly it's just this palpable sense of hesitation and uncertainty in face of the upcoming election.

That's the big thing is that most people just don't want to make big life decisions in the face of uncertainty. And this election has created so much uncertainty in all the markets, capital markets, housing markets, and so forth that everyone right now is just kind of taking this, I just want to wait and see approach. And that has resulted in a pretty stagnant market.

That's the big thing is that most people just don't want to make big life decisions in the face of uncertainty. And this election has created so much uncertainty in all the markets, capital markets, housing markets, and so forth that everyone right now is just kind of taking this, I just want to wait and see approach. And that has resulted in a pretty stagnant market.

That's the big thing is that most people just don't want to make big life decisions in the face of uncertainty. And this election has created so much uncertainty in all the markets, capital markets, housing markets, and so forth that everyone right now is just kind of taking this, I just want to wait and see approach. And that has resulted in a pretty stagnant market.

Yeah.

Yeah.

Yeah.

Yes, it's pretty simple. So when the Fed lowers rates, what they're lowering is or when they change rates, what they're changing is the federal fund rate. That is essentially the overnight rate at which banks can loan money to and from one another.

Yes, it's pretty simple. So when the Fed lowers rates, what they're lowering is or when they change rates, what they're changing is the federal fund rate. That is essentially the overnight rate at which banks can loan money to and from one another.

Yes, it's pretty simple. So when the Fed lowers rates, what they're lowering is or when they change rates, what they're changing is the federal fund rate. That is essentially the overnight rate at which banks can loan money to and from one another.

It does not have a direct correlation to mortgage rates unless we're talking about a second mortgage like a home equity line of credit, which is directly tied to the prime index, which is tied to what the Fed does. But mortgage interest rates are going to be based on much broader economic policies like inflation and the demand for bonds.

It does not have a direct correlation to mortgage rates unless we're talking about a second mortgage like a home equity line of credit, which is directly tied to the prime index, which is tied to what the Fed does. But mortgage interest rates are going to be based on much broader economic policies like inflation and the demand for bonds.

It does not have a direct correlation to mortgage rates unless we're talking about a second mortgage like a home equity line of credit, which is directly tied to the prime index, which is tied to what the Fed does. But mortgage interest rates are going to be based on much broader economic policies like inflation and the demand for bonds.

So we haven't really seen much of an impact on mortgage rates. They are certainly lower today than they were, say, a year ago. But they haven't gotten into that zone where I think people are going to really be motivated to start to reengage. To me, that needs to have a five handle on it. And while some mortgages are now starting to be priced in the high fives. Really?

So we haven't really seen much of an impact on mortgage rates. They are certainly lower today than they were, say, a year ago. But they haven't gotten into that zone where I think people are going to really be motivated to start to reengage. To me, that needs to have a five handle on it. And while some mortgages are now starting to be priced in the high fives. Really?