Fed Rate Hold & Its Impact on Real Estate! - Tom's Take 380

The Federal Reserve kept the federal funds rate unchanged last week at 5.25% to 5.50%, with favorable CPI data showing lower-than-expected inflation, leading to positive market reactions, including a rise in the Dow and a slight drop in mortgage rates. 👀 Sellers: Don't wait for rates to drop dramatically. 📉 Significant drops would likely require a major economic downturn. Buyers: Now is a good time to start looking. Lower rates mean more serious buyers and increased competition if rates drop further. 🏡 The Fed plans one rate cut in 2024 and more in 2025, maintaining a steady rate policy with a target of 2% inflation. 🎯 Inventory is increasing, offering more options but also more competition. With the Fed's clear stance on rate policy, it’s time to make informed real estate decisions rather than trying to time the market. 🤝 For a detailed discussion on how these changes impact your plans, schedule a call with our expert team. 📲 https://calendly.com/tomtoole