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Rates are down time for a buy or Re-Fi! · Bought Borrowed and Sold

• 0:00
  Speaker 1: All right, welcome to Bob barn and Soul. Thanks so
• 0:02
  Speaker 1: much for joining us today and hanging out in the
• 0:05
  Speaker 1: studio with us. We've got Brad Smith with a cross
• 0:08
  Speaker 1: country mortgage, and we've got John Michael Brannon from the
• 0:12
  Speaker 1: Gusty Goulis Group. Welcome, fellas.
• 0:14
  Speaker 2: How are y'all good? How are you good? Good? It's
• 0:17
  Speaker 2: usually usually when John Michael's here, he's with me and
• 0:19
  Speaker 2: you're not here, and that's that's usually that's usually the flow.
• 0:22
  Speaker 2: So having everybody here is kind of nice.
• 0:24
  Speaker 1: Yeah, that's right, that's right. Well, I think we've going
• 0:28
  Speaker 1: to have some exciting news to tell our folks with
• 0:30
  Speaker 1: mortgage rates. They're they're they're so Brad's gonna be talking
• 0:34
  Speaker 1: about that a little bit later on in the show,
• 0:37
  Speaker 1: and it's great news for us. But I want to
• 0:45
  Speaker 1: give a couple of shout outs to our team members.
• 0:47
  Speaker 1: We had three team members that were had their best
• 0:51
  Speaker 1: months ever, so I want to give some special shout
• 0:53
  Speaker 1: outs to those folks. Jonathan Weaver, Tony McDaniels, and Kyle Bedgood.
• 0:59
  Speaker 1: Congratulates on your best month ever. So that was pretty sweet. Woo.
• 1:07
  Speaker 1: Did you watch some wrestling over.
• 1:08
  Speaker 2: This, No, somebody broke down something the other day and
• 1:11
  Speaker 2: they asked for to claps and Rick Flair and it's
• 1:13
  Speaker 2: got Now it's stuck in my head after after a
• 1:15
  Speaker 2: football game Tuesday, So okay, anyways, now it's just it's
• 1:18
  Speaker 2: in there.
• 1:19
  Speaker 1: There it is. I mean, I'm a wrestling fan too,
• 1:22
  Speaker 1: so yeah, I've got like an old cousin that was
• 1:27
  Speaker 1: like one of the big wrestling promoters in Nashville back
• 1:30
  Speaker 1: in like the seventies.
• 1:31
  Speaker 2: Oh nice. So I definitely had my wrestling times. None
• 1:34
  Speaker 2: of my kids have really ever been into it, but
• 1:36
  Speaker 2: there was those mid late nineties early two thousands were Yeah.
• 1:42
  Speaker 1: I've got also some shout outs. We've got contracts over
• 1:46
  Speaker 1: this past week. Garrett Messer, Graham Reesburg, Alita Piedra, Tim Lance,
• 1:52
  Speaker 1: Kyle Bedgood, Isaac Marvin, John Riddle, and John Michael Brennan
• 1:56
  Speaker 1: hanging out with us. Let's go, I Liken, we like contracts.
• 2:02
  Speaker 1: So a solid contract week. Eight contracts over the past week.
• 2:06
  Speaker 1: So I'd say, you know.
• 2:08
  Speaker 2: That's holiday weekend back the end of day.
• 2:11
  Speaker 1: Yeah, yeah, for a holiday weekend. I think that that,
• 2:16
  Speaker 1: you know, it's very hit or miss holiday weekend. You've
• 2:21
  Speaker 1: got so many people out of go out of town.
• 2:23
  Speaker 1: I mean I was one. We went out of town
• 2:26
  Speaker 1: and uh, but you know people that are typically looking
• 2:29
  Speaker 1: during like Labor Day or or holiday weekends, usually they're
• 2:33
  Speaker 1: pretty serious. Yes, so that that's usually a good sign.
• 2:36
  Speaker 1: You want to let those folks in if at all possible.
• 2:39
  Speaker 2: So yep, Well cool.
• 2:41
  Speaker 1: Well, Hey, I know we've got we've got a bunch
• 2:45
  Speaker 1: of listenings and coming soons and open houses today, So
• 2:48
  Speaker 1: I figure we just need to go ahead and jump
• 2:50
  Speaker 1: right in on the mortgage game and then we'll talk
• 2:52
  Speaker 1: about what we're seeing in the market in our next segment. So, Brad,
• 2:55
  Speaker 1: would you give us a little rundown of our game?
• 2:59
  Speaker 2: Oh yes, sir? All right, So gus he's gonna go
• 3:01
  Speaker 2: through the properties they've got on the open houses or
• 3:04
  Speaker 2: new listings, and he's gonna give us all the details.
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  Speaker 2: The most important one that I need is the list price,
• 3:09
  Speaker 2: the potential purchase price on the home. That time, I
• 3:12
  Speaker 2: will give everyone a kind of a down payment somebody
• 3:14
  Speaker 2: might make on it, and they will guess thirty yr
• 3:16
  Speaker 2: fixed principal interest monthly payment. All right, So we got thir,
• 3:22
  Speaker 2: I'm we're lumping all of y'all in today.
• 3:24
  Speaker 1: So we've got two new listings and a bunch of
• 3:26
  Speaker 1: open houses. So I'm gonna hit our two new listings, yes,
• 3:29
  Speaker 1: and we're gonna guess payments on those, and then we're
• 3:32
  Speaker 1: gonna end it with like our first open house, and
• 3:35
  Speaker 1: that'll be our third one unless we've got a break tie.
• 3:37
  Speaker 2: Yeah, all right.
• 3:38
  Speaker 1: So our first new listing of the week is in
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  Speaker 1: Bluff Park fourteen twenty four Chester Street. This one is
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  Speaker 1: a two bedroom, two bath renovated homes seventeen hundred and
• 3:48
  Speaker 1: twenty three square feet and we are asking three seventy five,
• 3:53
  Speaker 1: three hundred and seventy five thousand dollars. And this listing
• 3:56
  Speaker 1: is courtesy of Kyle Bedgood. And when I talk about
• 4:00
  Speaker 1: this house on Chester, I mean it's like an industrial renovation.
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  Speaker 1: It's looked super cool. We've had great feedback on it
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  Speaker 1: so far since going to market, uh this past week.
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  Speaker 1: So uh yeah, we'll see who's going to be the
• 4:14
  Speaker 1: winner of this property. So three seventy five.
• 4:18
  Speaker 2: Three seventy five or three seventy five.
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  Speaker 1: This order, Yeah, this one's three seventy five.
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  Speaker 2: Just wanted to double check our three seventy five, three
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  Speaker 2: seventy five putting twenty percent down, twenty percent down, Gusty,
• 4:29
  Speaker 2: you get to go. So we're going to Gusty our
• 4:32
  Speaker 2: steam producer, John Mounts. Yes, then John Michael Brod.
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  Speaker 1: Okay, all right, twenty percent down, Okay, I'm gonna go
• 4:42
  Speaker 1: with nineteen ninety six.
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  Speaker 2: Nineteen ninety six for Gusty.
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  Speaker 1: It was a good year. Yeah, year was a good year.
• 4:58
  Speaker 1: Ah you know with.
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  Speaker 3: Nineteen fifty five, the year that Marty went back in time.
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  Speaker 4: I'll say two thousand and.
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  Speaker 1: Fifty Okay, we're all in the ballpark.
• 5:18
  Speaker 2: How do you know allegedly the actual payment one thousand,
• 5:26
  Speaker 2: eight hundred and sixty six dollars.
• 5:29
  Speaker 1: All ahead. We were all too much dialing it back.
• 5:33
  Speaker 2: You tease, what's going on with the rates and stuff?
• 5:35
  Speaker 1: We all have come do this all right. Our next
• 5:39
  Speaker 1: new listing of the week is in Trustful in the
• 5:41
  Speaker 1: Hidden Trace Neighborhood, thirty three eighteen Hidden Brooks Circle. This
• 5:48
  Speaker 1: one is four bedrooms in three baths, built in nineteen
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  Speaker 1: ninety seven. It is a split four year. We're asking
• 5:55
  Speaker 1: three seventy nine nine, three seventy nine nine. This listing
• 6:00
  Speaker 1: is courtesy of Graham Reeseburg. So Graham, congratulations, on your
• 6:04
  Speaker 1: new listing, all.
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  Speaker 2: Right, three seventy nine nine five percent down, five percent.
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  Speaker 3: Down, and this one's on Joe on me. He's on
• 6:16
  Speaker 3: John Males, so five percent. So it's going to be
• 6:18
  Speaker 3: more than the last one. I'm gonna say twenty twenty
• 6:24
  Speaker 3: three hundred.
• 6:29
  Speaker 2: John Michael twenty two hundred.
• 6:32
  Speaker 1: Mm. All he's got to do is come in on
• 6:36
  Speaker 1: the right side. Unless he thinks we're somewhere we're right.
• 6:38
  Speaker 3: He's gonna try and come in between because if he
• 6:41
  Speaker 3: thinks we're both high, then you just got to go
• 6:42
  Speaker 3: a little lower than you, and you.
• 6:44
  Speaker 4: Need to go higher than me.
• 6:46
  Speaker 2: We're at twenty three hundred, we're at twenty two hundred.
• 6:50
  Speaker 1: Twenty two to fifty. I'll take that.
• 6:53
  Speaker 2: Well. It was actually twenty two forty six.
• 7:00
  Speaker 4: All right.
• 7:02
  Speaker 2: Over today, so I know we got a lot to cover.
• 7:05
  Speaker 2: But went visited my grandmother over the holiday last week.
• 7:08
  Speaker 2: She was watching the game show Network and who won'ts
• 7:10
  Speaker 2: Be Mallionaire was on and I could get my quid
• 7:13
  Speaker 2: to leave. It was like an episode from nineteen ninety
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  Speaker 2: nine or something like, Oh we got to see if
• 7:17
  Speaker 2: he wins it. Anyway, Sorry, it is rage. Yes, she's
• 7:21
  Speaker 2: in her recliner just taking in her game show.
• 7:23
  Speaker 1: Loving Loving life. All right, we've got opened this afternoon.
• 7:27
  Speaker 1: And by the way, the house in uh trustful is
• 7:29
  Speaker 1: open from uh let's see, let me double check the
• 7:33
  Speaker 1: time two to four it is opened two to four.
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  Speaker 1: So thirty three eighteen Hidden Brook Circle is open two
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  Speaker 1: to four this afternoon and also opened two to four
• 7:42
  Speaker 1: this afternoon. Afternoon, Go see, Go see Chasing Heberling at
• 7:47
  Speaker 1: ninety one Brookline Lane. This is a two bedroom, two
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  Speaker 1: bath home in Helena in the Wyndham Cottages neighborhood, built
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  Speaker 1: in two thousand, eleven and seventy one square feet, two bedrooms,
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  Speaker 1: two best. We're asking two hundred and fifteen thousand, two
• 8:03
  Speaker 1: hundred and fifteen thousand to fifteen.
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  Speaker 2: We're gonna put ten percent down, ten percent down on
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  Speaker 2: the final property for the game.
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  Speaker 1: All right, it's on John Michael. John Michael gets ten
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  Speaker 1: percent is two two hundred and fifteen thousand times ninety percent.
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  Speaker 3: Yeah, the decimal place over one and then subtract.
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  Speaker 4: This one's a whole lot further than the other two.
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  Speaker 4: The other one was two thousand, I would say, fifteen.
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  Speaker 2: Hundred, fifteen hundred for John Michael to me, or is
• 8:55
  Speaker 2: it Augustin. Probably I'm gonna go with.
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  Speaker 3: Twelve seventy five w about where I was going to go,
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  Speaker 3: So I'm gonna say twelve hundred.
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  Speaker 2: The actual payment it was one thousand, two hundred and
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  Speaker 2: four dollars to Whens the day going into the weekend.
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  Speaker 1: Boy, this is this everything's kind of pross go my man.
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  Speaker 3: And I thought that with another person in here, this
• 9:34
  Speaker 3: is going to be actually more difficult, But.
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  Speaker 2: You said a little back, candid, I thought this is
• 9:39
  Speaker 2: gonna be more difficult because I mean, but not one.
• 9:43
  Speaker 1: Hey, look, John's getting better at this game.
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  Speaker 2: I'm telling me, we've got rights down in John's world,
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  Speaker 2: so he's That's.
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  Speaker 1: What it is that rates are where I think they
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  Speaker 1: are supposed to be. Hey, we've got we've got some
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  Speaker 1: other open houses. We've got twenty twenty Rockling Drive in
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  Speaker 1: the Bluff Park area, built in nineteen fifty, recently renovated
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  Speaker 1: three bedrooms, two baths, sixteen hundred and eighty nine square
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  Speaker 1: feet with a whole brand new price of four nineteen
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  Speaker 1: nine four nineteen nine, and Bluff part on a fully
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  Speaker 1: renovated home. Go get it now, Go see Isaac. We're
• 10:15
  Speaker 1: gonna be open actually eleven to four on that one.
• 10:18
  Speaker 1: Isaac's gonna be there from eleven to two. I will
• 10:20
  Speaker 1: be there from two to four. So come and say
• 10:23
  Speaker 1: hey to us. Two twelve Great Oaks Drive and Pelham
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  Speaker 1: is going to be open this afternoon from two to four.
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  Speaker 1: This one is five bedrooms, three and a half baths,
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  Speaker 1: twenty seven hundred and sixty four square feet of main
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  Speaker 1: level square footage and then six hundred and ninety two
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  Speaker 1: square feet finished in the basement for five hundred and
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  Speaker 1: sixty five thousand dollars. Home was built just a couple
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  Speaker 1: of years ago, back in twenty nineteen. Full brick home
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  Speaker 1: with a three car garage. Go seekyl bedgood and then uh,
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  Speaker 1: last but not least open this afternoon in Chelsea. Three
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  Speaker 1: oh one Norman dy Lane, built in twenty twelve, has
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  Speaker 1: that old world old look three seven square feet, four bedrooms,
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  Speaker 1: four baths, two car garage. Uh and it also has
• 11:09
  Speaker 1: a golf car garage and uh yeah, go and go
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  Speaker 1: see Ashley Stacks five ninety nine on that one. So
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  Speaker 1: I got a bunch of a bunch of coming soons,
• 11:21
  Speaker 1: which is nice coming soons. Thirty fifty six Highland Drive,
• 11:28
  Speaker 1: John Michael, this is yours. You want to talk about
• 11:30
  Speaker 1: it real quick?
• 11:31
  Speaker 4: Yeah, it's it's a vacant home. This price is ninety
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  Speaker 4: seven five ninety seven five and it's a three to
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  Speaker 4: one and a half.
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  Speaker 1: Yep, and it's got a new roof, new HVAC. No,
• 11:47
  Speaker 1: those are always good. So it's big ticket items.
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  Speaker 2: Yeah, yeah, and we just.
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  Speaker 4: It's flat, flat yard, fenced in backyard. Now where's is
• 11:56
  Speaker 4: this in the minor area? It is minor, Okay, all right,
• 12:00
  Speaker 4: So be a great first home or a good investment
• 12:02
  Speaker 4: properre you go.
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  Speaker 1: Ninety seven five, eleven and ten square feet, So call
• 12:06
  Speaker 1: John and Michael about that. We're got one in Jamison.
• 12:09
  Speaker 1: We haven't had one in Jimison in a while. Two
• 12:11
  Speaker 1: seventy Ridgeview Circle, four bedrooms, two bass for two hundred
• 12:15
  Speaker 1: and forty thousand from Walker Gant. And then we've got
• 12:20
  Speaker 1: one in Homewood courtesy of TJ. Cunningham, sixty to four
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  Speaker 1: forest Ridge Road. This one's a three to two with
• 12:28
  Speaker 1: a two car garage and a pool. Oh yeah, six
• 12:32
  Speaker 1: fifteen and thirty five square feet on the main three
• 12:35
  Speaker 1: hundred and twenty six in the basement four hundred and
• 12:37
  Speaker 1: thirty five thousand dollars. So we have got a bunch
• 12:43
  Speaker 1: of bunch of coming soits and new listings.
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  Speaker 2: So that's good.
• 12:48
  Speaker 1: Do you have any VP buyer needs that you want
• 12:50
  Speaker 1: to talk about real quick?
• 12:52
  Speaker 2: Yeah?
• 12:52
  Speaker 4: I have, Yeah, some investment or investors that are looking
• 12:58
  Speaker 4: into Jefferson County in between one hundred to one hundred
• 13:01
  Speaker 4: and fifty thousand. They're okay with minor repairs. Also have
• 13:08
  Speaker 4: a buyer still looking in the Helena, Alabaster area up
• 13:12
  Speaker 4: to two seventy five uh two, three bedroom house and
• 13:19
  Speaker 4: then also Hoover up to around three twenty five. Minor
• 13:27
  Speaker 4: repairs are okay too. We're moving ready.
• 13:30
  Speaker 1: Okay, all right, well, very good. Well I don't know, Hey,
• 13:35
  Speaker 1: guess what's helping with us? It's testimonial time.
• 13:42
  Speaker 2: That's right now, It's that's right. Didn't get it beforehanded
• 13:45
  Speaker 2: with John oh Man.
• 13:47
  Speaker 1: Hey, we got a couple of reviews for guess who
• 13:51
  Speaker 1: John Michael Brandon.
• 13:52
  Speaker 2: Well, look at that.
• 13:53
  Speaker 1: All right. John Michael was a huge help in selling
• 13:56
  Speaker 1: our home. Was very knowledgeable through the entire process of
• 13:59
  Speaker 1: what ants or the right answer the phone right away
• 14:02
  Speaker 1: if I had any questions or concerns. So Brian, congratulations
• 14:07
  Speaker 1: and thank you so much for working with our team.
• 14:10
  Speaker 1: And John Michael. Congratulations on another five star review. Oh wait,
• 14:17
  Speaker 1: but there's more. Oh. John Michael was a joy to
• 14:20
  Speaker 1: work with. He navigated my son through in a state
• 14:23
  Speaker 1: realty cell with knowledge, professionalism, and very friendly demeanor. House
• 14:29
  Speaker 1: was placed on the market and sold in two days
• 14:31
  Speaker 1: during an open house he held. So congratulations on selling
• 14:36
  Speaker 1: your home with our team and John Michael, congratulations on
• 14:40
  Speaker 1: another five star review. All right, it's John Michael day
• 14:44
  Speaker 1: here at Bob mart and Sold and the Gusty Guilis Group,
• 14:47
  Speaker 1: So congratulations on your five star reviews, buddys. All right, well,
• 14:52
  Speaker 1: y'all stay tuned. We're gonna go take a quick break.
• 14:54
  Speaker 1: We're gonna be talking about where the rates are going
• 14:57
  Speaker 1: right now, which is gonna be positive. So you got
• 14:59
  Speaker 1: to stay tuned right here on bobbart and Sold. All right,
• 15:02
  Speaker 1: welcome back to Bob bart and Sold. And Well, if
• 15:06
  Speaker 1: you were playing playing the game against us, you know,
• 15:09
  Speaker 1: hopefully you were a little bit closer than John Michael
• 15:12
  Speaker 1: and I were. John mount since he won today.
• 15:15
  Speaker 3: We were only off by everybody was only off by
• 15:17
  Speaker 3: like twenty dollars and fifty dollars in some of these.
• 15:19
  Speaker 1: Man, it was pretty darn close. Pay it. It was
• 15:24
  Speaker 1: a pretty good gay. It was pretty good, pretty good hopefully.
• 15:27
  Speaker 1: You know, you know, I just don't like losing. But
• 15:31
  Speaker 1: you know it's okay. It's those rates, Brad, and you
• 15:34
  Speaker 1: tuned the rates where they should be.
• 15:36
  Speaker 2: Yeah. You know, I've been working my little between me
• 15:39
  Speaker 2: and my Crystal Ball, we've been doing a lot of
• 15:41
  Speaker 2: talking and kind of making sure we were on the
• 15:43
  Speaker 2: same page.
• 15:44
  Speaker 1: And you caught up your room power and said, look,
• 15:46
  Speaker 1: what can we do.
• 15:46
  Speaker 2: Let's get this, let's get this thing going. So, I mean, yeah,
• 15:49
  Speaker 2: so we had a pretty wild ride of improvement of
• 15:53
  Speaker 2: in the bond markets, which is good for mortgage rates
• 15:56
  Speaker 2: coming down. So we had a I guess it's probably
• 16:01
  Speaker 2: our first official jobs report with the new BLS somebody
• 16:04
  Speaker 2: else since so we've removed the other BLS director, the
• 16:08
  Speaker 2: Burer Labor and Statistics, and so after some revisions and everything,
• 16:12
  Speaker 2: we actually had I mean, this isn't all good news
• 16:14
  Speaker 2: as far as the jobs go, because the job reports
• 16:17
  Speaker 2: a lot weaker than expected. They're seeing the decreases, people
• 16:22
  Speaker 2: feeling the decreases. June was eventually revised to a negative number,
• 16:28
  Speaker 2: which was the first time in fifty four months that
• 16:30
  Speaker 2: we had a negative number in job gains from the BLS,
• 16:34
  Speaker 2: and so, I mean, that's that's significant.
• 16:37
  Speaker 1: Just do that, yeah, change ye.
• 16:40
  Speaker 2: So it came out with the job reports that came
• 16:42
  Speaker 2: out this past week, the revisions that'd be the final revision,
• 16:45
  Speaker 2: and then July was revised lower. It'll have one more
• 16:49
  Speaker 2: revision by the end of next month. But it was
• 16:51
  Speaker 2: going down as well once they started drawing it down.
• 16:53
  Speaker 2: And then honestly, the job gains that was suspected to
• 16:57
  Speaker 2: have seventy five thousand around in August as far as
• 17:00
  Speaker 2: the original number ended up being around twenty one thousand
• 17:03
  Speaker 2: and ninety thousand of those job gains was was the
• 17:08
  Speaker 2: birth death model, which is just literally saying that this
• 17:11
  Speaker 2: is about how many should have gone out of business,
• 17:13
  Speaker 2: and people businesses started to but there's no there's no
• 17:15
  Speaker 2: support or anything like that. So once that gets tailored down,
• 17:19
  Speaker 2: it would have been a negative number this past month. Also,
• 17:22
  Speaker 2: the other thing we're seeing is is the UH the
• 17:28
  Speaker 2: the people that are moving to from full time to
• 17:30
  Speaker 2: part time because they can't find full time work is
• 17:32
  Speaker 2: increasing to the highest level since middle of COVID, and
• 17:36
  Speaker 2: so we're we're we're definitely seeing the jobs so down
• 17:38
  Speaker 2: you know, there's you know, there's there's a lot of
• 17:40
  Speaker 2: AI that has to do with that. You know, we've
• 17:42
  Speaker 2: you know, you start seeing like you know, I was
• 17:44
  Speaker 2: listened to some other day talk about let they up
• 17:47
  Speaker 2: in the Northeast. They went to you know, to Taco
• 17:49
  Speaker 2: Bell drive through and it was completely humanless way and
• 17:54
  Speaker 2: so they had like one person there just in case
• 17:56
  Speaker 2: something went wrong, but other than that, it was that
• 17:58
  Speaker 2: was completely through the drive through, completely AI done. Sides.
• 18:03
  Speaker 2: I guess, I guess there were people in the kitchen,
• 18:05
  Speaker 2: but that was it, and so and so, you know,
• 18:08
  Speaker 2: you so you start looking at that and you start saying, Okay, well,
• 18:11
  Speaker 2: who's gonna who's gonna get those jobs back?
• 18:13
  Speaker 1: Right?
• 18:13
  Speaker 2: Like? Nobody those those aren't coming back. More of those
• 18:15
  Speaker 2: are gonna start going away. So where are we gonna
• 18:17
  Speaker 2: supplement and find this? You know, where where where we're
• 18:20
  Speaker 2: gonna make some of these things up. There was also
• 18:23
  Speaker 2: a big conflict on the jobs report between a DP,
• 18:25
  Speaker 2: which is you know, one of our larger you know,
• 18:28
  Speaker 2: with a lot of people get paid through a DP
• 18:29
  Speaker 2: and everything that has some good stuff. It showed a
• 18:32
  Speaker 2: decrease in like in health care and hospitality numbers where
• 18:37
  Speaker 2: the Bills Report showed showed gains. So there was like
• 18:41
  Speaker 2: a there was like a seventy five eighty thousand dollars
• 18:43
  Speaker 2: job difference in those in those same subcategories by using
• 18:47
  Speaker 2: ADP on one and the Bills Job reporting the other.
• 18:50
  Speaker 2: So I think the markets are just reacted that, hey,
• 18:52
  Speaker 2: it's not as strong as we think. And now now
• 18:55
  Speaker 2: now the odds are we are going to get three cuts,
• 18:57
  Speaker 2: We're gonna get another, We're gonna get this cut coming
• 18:59
  Speaker 2: up here in septeen, gonna get one in October, probably
• 19:02
  Speaker 2: one either in November December.
• 19:03
  Speaker 1: So do you think that they would get like aggressive
• 19:06
  Speaker 1: and go with like more of a half point cut.
• 19:10
  Speaker 2: You know that that's been part of the conversation too,
• 19:12
  Speaker 2: and even even going we'll even drill it down a
• 19:16
  Speaker 2: little more than they go in so many quarters. And
• 19:18
  Speaker 2: they have talked about not doing the traditional way of
• 19:20
  Speaker 2: like getting into a system of just saying, okay, it's
• 19:24
  Speaker 2: just gonna be twenty five every meeting. Now, what what
• 19:27
  Speaker 2: does that? You know, entail? Does it mean they're gonna
• 19:30
  Speaker 2: skip one? Are they gonna do a fifty bip. Are
• 19:32
  Speaker 2: they gonna do you know, are they are they gonna
• 19:34
  Speaker 2: do a random number kind of cut that that doesn't
• 19:37
  Speaker 2: make a lot of sense, But you know, you know,
• 19:39
  Speaker 2: not be so just quarter every time until we get
• 19:42
  Speaker 2: it where we want it, which I think is good too. Like,
• 19:45
  Speaker 2: you know, I think it's good to have kind of
• 19:46
  Speaker 2: predicting us to know what the plan is or what
• 19:49
  Speaker 2: they're thinking. But let's not be so like, you know,
• 19:52
  Speaker 2: it can't be perfect every time where you're just constantly
• 19:54
  Speaker 2: doing twenty five and there's got to be something that's
• 19:56
  Speaker 2: driving it, so it can't just always be the same
• 19:58
  Speaker 2: number that you need on it. So like let's let's
• 20:00
  Speaker 2: actually drill it down and so they may you know,
• 20:02
  Speaker 2: the couple of the FED governors have mentioned maybe doing
• 20:05
  Speaker 2: something a little more, a little more that's tailored to
• 20:09
  Speaker 2: what we're actually seeing opposed to just kind of sticking
• 20:11
  Speaker 2: to a system and so, which I think would be
• 20:14
  Speaker 2: you know, a nice change of pace, and the markets
• 20:16
  Speaker 2: will probably you know reflect positively with that, gotcha, gotcha?
• 20:20
  Speaker 2: So yeah, but I mean it's I mean, so I mean,
• 20:23
  Speaker 2: let's just you know, just just on the average, is
• 20:25
  Speaker 2: just say that, you know, last week when we were talking.
• 20:27
  Speaker 2: I was saying, you know, somewhere around six and a
• 20:29
  Speaker 2: half percent your your thirty year average right now. I
• 20:31
  Speaker 2: mean over the over a week, we've probably dropped a quarter.
• 20:34
  Speaker 2: So you know, saying six and a quarter on that
• 20:36
  Speaker 2: thirty year average, does that mean that we don't have
• 20:38
  Speaker 2: people right now that we can quote in the fives
• 20:40
  Speaker 2: high fives? No, we definitely can. I mean, the government
• 20:43
  Speaker 2: loans are usually a little lower. We can get those
• 20:45
  Speaker 2: in the high fives right now. And then even and
• 20:48
  Speaker 2: even with you know, a small discount point, you're gonna
• 20:51
  Speaker 2: be to get in the fives. So I mean even
• 20:53
  Speaker 2: on a conventional thirty or fix. So there's a lot
• 20:55
  Speaker 2: of options there. But I mean it's going the right
• 20:58
  Speaker 2: direction and all all with the jobs reports thing is
• 21:01
  Speaker 2: so big because it was one of those things that
• 21:02
  Speaker 2: we knew was there. But you know, you've talked about
• 21:05
  Speaker 2: me talk talk about those numbers being faulty and kind
• 21:07
  Speaker 2: of screwed up and not very reliable. And so now
• 21:10
  Speaker 2: the time that's come to light, the markets are reflecting
• 21:13
  Speaker 2: to it, and you know, as long as it stays
• 21:15
  Speaker 2: giving us the real numbers, again, the numbers are what
• 21:17
  Speaker 2: they are. But if we're getting fake ones. It doesn't
• 21:19
  Speaker 2: help anybody, so so so it is what it is.
• 21:22
  Speaker 2: So if rates need to come down because of it,
• 21:23
  Speaker 2: they need to come down. And I think they're going
• 21:25
  Speaker 2: to continue.
• 21:26
  Speaker 1: Yeah, I think there. I definitely think that they're going
• 21:28
  Speaker 1: to continue. And you know, that's that's music to our ears.
• 21:32
  Speaker 1: So in real estate having lower rates and and it
• 21:36
  Speaker 1: looks like, I mean just our showings are starting to
• 21:38
  Speaker 1: pick up a little bit more on our listings, and
• 21:41
  Speaker 1: I think that has, you know, correlation with rates coming down.
• 21:45
  Speaker 2: Yep.
• 21:46
  Speaker 1: So at least that you know, having the conversation about
• 21:48
  Speaker 1: rates coming down and the media makes a big difference
• 21:51
  Speaker 1: because it gets people like, hey, what's you know, what's
• 21:53
  Speaker 1: going on? But I think we also have to talk
• 21:56
  Speaker 1: about it with our clients. Just let them know, hey,
• 21:58
  Speaker 1: rates are probably maybe six quarter right now, or maybe
• 22:01
  Speaker 1: if we've got you know, FHA or VA, we might
• 22:05
  Speaker 1: get maybe five and a half or five seven five,
• 22:08
  Speaker 1: you know, in those ranges, And that gets at least
• 22:10
  Speaker 1: people in that conversation talking about like everybody's situation is different,
• 22:14
  Speaker 1: everybody's credit score is different, everybody qualifies for something different,
• 22:17
  Speaker 1: but you still have to make that plan and it
• 22:22
  Speaker 1: can also depend on the house too, what it qualifies for.
• 22:25
  Speaker 2: And to your point about that, like it just just
• 22:27
  Speaker 2: on this is this is there's no technical data behind this,
• 22:29
  Speaker 2: but like I made a Facebook post this past week
• 22:31
  Speaker 2: of kind of a call to action, like hey, whether
• 22:33
  Speaker 2: you're looking refinance, cat, cash out, purchase, like, let's build
• 22:36
  Speaker 2: a plan because rates are coming down. And that was
• 22:38
  Speaker 2: like last Tuesday. And normally when I make up some
• 22:40
  Speaker 2: kind of posts like that, I may get one, like
• 22:42
  Speaker 2: maybe a couple, maybe a comment or two, but usually
• 22:45
  Speaker 2: not much. You know, it's just kind of I know
• 22:46
  Speaker 2: people were seeing it's the top of mind. I've had
• 22:48
  Speaker 2: seven different people reach out to me directly interesting from
• 22:51
  Speaker 2: that post. Nice, So your point about people are itching
• 22:54
  Speaker 2: and ready and wanting to hear rates are coming down
• 22:56
  Speaker 2: because they need or want to do something, whether it
• 22:59
  Speaker 2: is a refinance, which one of them was and the
• 23:00
  Speaker 2: other ones were purchases, but just trying to get a
• 23:03
  Speaker 2: feel for what's going on. So I mean that's that's
• 23:05
  Speaker 2: a tailtale signed to your point of what people are
• 23:08
  Speaker 2: looking at and thinking.
• 23:09
  Speaker 1: Yeah, well, like as always, you need to build your
• 23:12
  Speaker 1: plan of action, whether it's buying or selling for any
• 23:17
  Speaker 1: financing options Bradsmith Loans dot com, cross Country Mortgage. You
• 23:22
  Speaker 1: can reach out to John Michael Brandon and our team,
• 23:25
  Speaker 1: John Michael, what's your number?
• 23:26
  Speaker 4: Two O five four seven three four four O seven.
• 23:30
  Speaker 1: All right and call anytime. You can call our office
• 23:32
  Speaker 1: two A five five four two nineteen ninety six. We've
• 23:34
  Speaker 1: got to Gustygoulis Group dot com.
• 23:37
  Speaker 2: It's delightful.
• 23:38
  Speaker 1: We've got a bunch of open houses. Maybe we'll see
• 23:40
  Speaker 1: you all at one of our open houses this afternoon,
• 23:43
  Speaker 1: but uh, anyways, thanks so much for listening and we'll
• 23:46
  Speaker 1: catch you next time.