The Fed Has The Florida Real Estate Market Locked Up

The Fed Has The Florida Real Estate Market Locked Up
The federal reserve has finally paused rate hikes after 15 months as inflation declines to 4% and jobless claims rose to 262,000. But the Fed is still saying that future rate hikes could be in our future as we see retail sales rise again in May and the Fed is still a ways away from their 2% goal. So has the fed’s policies of raising rates worked so far and what does all this mean for mortgage rates and the Florida Real Estate market.
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[@C5drummer]

Mortgage rates should come down as the year goes into the next ( 🙏) and with someone interested in buying new construction, the buyer doesn't "have" to lock in a high rate from an Underwriter just yet like we have now. I was given the advice to wait, and NOT lock in a rate until 6-8 weeks before closing. Considering the construction of a new home is seemingly 8-12 months depending on the supply chain of materials, putting money down on new home construction still seems like a better bet than buying pre-owned...As there is that "hope" that rates will be coming down by 1st quarter of next year. Another point you made, especially on new construction...Get a Realtor like yourself on one's FIRST visit, and take the builder's concession on closing costs if they offer one! (If able to use the builder's preferred lender). Or one can refinance in a few years if the rates remain absolutely asinine despite signs of a slightly improving economy. The latter is always an option, and great advice, and IMO, should not deter someone buying new construction in your neck of the woods.
Sorry for this personal rant, but wow, you bring up some other great points regarding the idiotic Federal Reserve news. First off, the Fed has been a thorn in EVERYONE'S side during this administration, much like Carter's administration in the early '80s and Clinton's administration in the mid-1990s, luckily not to THOSE levels. (12.5-18.25% --> Just insane!). It's almost as if they're keeping the rate high in order to fund the Department of the Treasury whose coffers have dwindled in this economy of ours the last 3 years. As most may know, any profit the Fed Reserve makes goes to the Department of the Treasury, that then uses the money to fund government spending. It's crazy because it sure seems like government money laundering!
Great work BTW, and appreciate your videos of the entire surrounding Tradition area! I think the council there owes you a promotional fee each month! 🙂
Anyway take care and God bless.

[@LeeBrickeytv]

Thank you very much for the kind words and ranting is OK. I have to try not to!

[@almaiorino5103]

Any incentives in Riverland?

[@LeeBrickeytv]

They change so much that I am not sure but they always have something towars closing cost or upgrades.

[@almaiorino5103]

@@LeeBrickeytv thanks Lee