Latest / The Jon Sanchez Show / From Missiles to Mortgages: How today could reshape our financial future.
Transcript
- Bailey Sanchez: Good Tuesday afternoon to you. Welcome to the John Sanchez show on News Talk 780K, which it's a pleasure to be with you on a potentially historical day and a great pleasure to be with my co-host. Glad I'm not having to fly solo. I have somebody to talk to today. Dwight Millard of OnCue Home Loans. How are you, my friend? I'm doing fantastic, John. I was teasing Dwight. I'm like, it's not fair. Your world's been nice and quiet with all this market turmoil and global turmoil. Now you just jinxed it, but that's OK. know. know. Sorry about that, buddy. It's all right. It's all right. I just figure, you know what, if I gotta go through this living hell, you gotta do the same thing. So, you know, how about that? I'll take it. Misery, misery loves company. That's right. That's right. Aaron of Andrew Lady. How are you, my friend? I'm good. think I'm kind of like Goldilocks and the three bears. I'm just the perfect everything right now. Right, ⁓ right. Like you Yep. Yep. That's that's that's the way to look at it. That is the exact way to look at it. ⁓ You talk about not moving, yeah, you just don't move at all. could change. ⁓ could change. All folks, let's get down to business. We are less than two hours away from what could potentially be one of the most devastating things that many of us have ever experienced in our lifetime. At 5 PM tonight, our time, of course, is when the United States of America is supposed to begin bombing Iran on the infrastructures, utility plants, the desalinization. everything that's related to human life. that's what this market was focusing on today throughout the trading session until we got into about the last 15 minutes or so of the trading session and things changed, well, at least proposed to change. So we decided the best thing that we could do for you this afternoon is not really get deep into the weeds on stock market strategies, not deep into the weeds on real estate or mortgage strategies. but just really talk through some scenarios, right? Our job, our responsibility to our clients and to you as our listeners to lay scenarios. What's going on? What are some possible things that can happen? ⁓ And what potentially could you be doing if indeed happens? There's a lot professional traders, institutional money that are laying out all kinds of strategies right now because we don't know what's gonna happen at 5 p.m. tonight. But we are going to bring you up to date on some news that broke about 15 minutes before the stock market closed. Then we're going to move into rest of the show after stock market recap of the day. And again, out what are some potential scenarios that can happen in mortgage rates. That can happen obviously in the stock market. And therefore, what can happen in the real estate side of things. So it's going to of be, I'll call it the old smorgasbord. We're going to jump around to a lot of different areas. we want to get you a little bit. about again what can happen because the world doesn't know. Now speaking of the world, let's get down to the big news of the day. Approximately 15 minutes before the stock market closed today, news came out, I told you this was gonna happen yesterday, but it's not for sure at this point. News out that the president received word from Pakistan. that they are urging a two week extension on this five o'clock deadline this evening. Now immediately the market recovered. The oil prices recovered, meaning they went from, you know, they're up a little over $2 a barrel. Worst level today, we're up over $4. Closed up actually a pretty small amount, just $2.80, or excuse me, closed up 60 cents, pardon me. So the market liked this news, guys. But once again, boys and I were just joking before the show started, who'd ever thought that the world would be relying upon Pakistan, Pakistan of all places, to negotiate deal if it comes true, if the missiles do begin to fly this evening, destroying again infrastructure, and as I'll read to you one of the president's true social posts today, This could be one of the most devastating things that we, most of us have experienced in our lifetime. But as I said on the show yesterday, I sincerely doubt it's going to happen. Hope and pray it's not gonna happen, I sincerely doubt that it's gonna happen. I ⁓ not be surprised if by the end of this show we have some news that this thing has been, ⁓ postponed. But I wanna start things off with you guys and read some of the comments that the president made today. And we know that he does this. Wall Street Journal had a great story this morning, back since this war began, ⁓ threats, last ditch efforts, let's kick it down the road, right? And so know is some of his negotiation ⁓ to do something like right? You try to the heck out them. I think, however, this time could a little bit different from the standpoint. Iran is being very quiet. has not been any news that has come out that I have seen come out of Iran saying, yep, we're open to these negotiations that Pakistan is talking about. Again, a two week postponement. Hopefully, again, we all want something to be done in a positive sense. But at this point, we don't know. So let me share with you with the president how he set the stage today. He said, let's see. Let's see. bring up comments. Bear with me one second, because I had another story. So let's of start off with what he said this morning. He said the following quote, a whole civilization die tonight, never to be brought back again if no agreement is reached. However, now that we have complete and total regime change, where different, smarter, and less radicalized minds prevail, maybe something revolutionary, wonderful can happen. And then in capital letters, who knows? said, we'll find out tonight, one of the most important moments in the long and complex history of the world. So that's how our day got started. Market sold off on the news, wasn't all that bad. Again, down 400 points at our worst level, hovered around the negative 200 point mark for most of the session. But now fast forward to what's going on right So again, as we speak, Pakistan came out about 15 minutes before the stock market closed today and said, herds need prevail. We want this thing postponed for the next two weeks. The president came out, said he was in heated negotiations involving the war after Pakistan in the role of mediator, asked for a two week extension for Tehran to reopen Strait of Hormuz. The president said to ⁓ Fox News, I can't tell you because right now we're in heated negotiations asked about the Pakistan request. White House press secretary Carolyn Levitt said in a statement earlier that Trump has, quote, been made aware of the proposal and a response will come. Now ⁓ prime posted on social media that talks were, quote, progressing steadily, strongly, and powerfully. And that country had asked Iran to open the Strait of Hormuz. for a corresponding period of two weeks as a goodwill gesture. Let's stop right there for a second. Aaron, I'll start with you. Do you really think that Iran would go, OK, let all the ships start flowing for the next two weeks while we hammer this thing out? Dwight, you agree with me on that one? ⁓ I don't either. Just want to make sure I'm not off my rocker here. Yeah, yeah. I think any of this rhetoric is going to change anything. Yeah, I don't either. ⁓ Now Trump called the Prime Minister a highly respected man all over. Again, President earlier today threatened to wipe out Iran's whole civilization. Let's I'm going off of the Bloomberg story that just came out. Behind the mediators then raced to keep ceasefire talks alive. A senior White House official ⁓ downplayed Iran's and said that legitimate negotiations continue to take place. Trump said yesterday it was, highly unlikely that he would agree to back off his deadline again. Let's see. What else did he have to say today? That's pretty much about it. Oh, he said we're on the way of upgrading our growth projection for 20. Oh, no, I'm sorry. This is another person. I apologize. I'm just trying to read this thing as I'm live right here. Anyways, you get the gist of it. Now, see that they were asking for younger Iranians to make human chains around. yes, yes exactly and when Aaron's referring to as far as human targets Again, those this this is the infrastructure, right? This is the infrastructure the utility plants the desalinization plants so on so forth ⁓ now One other that failed to mention that did happen this morning that again, but it's kind of this negative tone was You Carrick Island or Island, however, you want to pronounce it? We evidently did bomb it overnight Now remember if you're not familiar with that. This is an island that sits about 20 22 miles offshore of Iran This is where 90 % of the oil that is exported out of Iran Is loaded right so it's a massive terminal so look at like Port of Los Angeles and probably even bigger I don't know the exact size of the the actual shipping terminal, but 90 % of the oil out of Iran Comes you know flows via pipeline to and has storage facilities to this island. The ships pull up, they load them up, and then the ships head out the Strait of Hormuz. ⁓ know, there's been a lot of talk, of course, this be one of the targets. We've hit it, I guess this would be the second time that we know, who knows what really goes on behind the scenes. We did not hit any oil, you know, oil refining or anything along those lines. ⁓ It was non-military areas that hit. Which, know, again, this is not a big island, folks. And so, again, second major bombing that has happened there. This is the island also, if you haven't followed it, that many, you know, many are saying, again, this is all just rumor, ⁓ this is where the Marines, the 5,000 plus Marines that are now in the area would try to make land assault and put boots on the ground, as the saying goes, and then would take it over. And then, you know, again, think about this, as I said on the show yesterday also, he wants this oil. And so... ⁓ You if you put boots on the ground, God forbid, they're saying it's gonna be a very bad situation because it's heavily fortified what's left. And of course, you know, but if we got it, did that, got it, and then now we control 90 % of the oil that's coming out of there. It's not a far-fetched idea, guys, right, Dwight? No, not at all, John. I think it's, you know, we're gonna know a lot more tonight, you know, how this goes, but... I mean, none of this is good for, you know, morale for it. Just it's a tough situation. And I know funny because we often talk how people are disconnected to our world because they don't live in it. Yes. But this affects everybody. This is this is everything. It I'm glad you brought that up. Yeah, I've talked a few people today and, you know, maybe was just dumb luck or whatever. But a lot of people very down today, very concerned. You know, I guess obviously when you're facing a deadline, even though, know, I again, I would be surprised if the deadline comes true and we start firing or attacking, But it just I think people just plain exhausted. I've read a lot of stories just today that just, you know, your point, Dwight, just from the the the market perspective, people are exhausted, right? They're tired of chasing the headlines and saying, ⁓ OK, you know, Iran this, but they're really doing this. The president said this, but he's really doing that. whipsaw, right? And it's exhausting. It's like, man, can't wait till the day where we can get back to talking about the fundamentals, talking about the Fed, talking about earnings and the things that normally we can talk about on this show. ⁓ But again, of it matters at this point. ⁓ It really This is the headline that is going on. But I will give some good news. If this market's been pretty good about predicting things, and I was sharing this with the guys right before the show started, and I'll share it with you. Right now, The market is anticipating that something is going to happen. And again, at the 12th hour as we'll call it. looking right now, the Dow futures are up 425 points. NASDAQ futures are up 245. And the S &P futures are gaining 60. So if that's telling you that there's something going on that people know that we don't know, potentially, I mean, it's much better than that being down. So will see. But again, we're going to just kind of continue to go through the show, talk about happens if an attack does occur here in less than two hours as I said. going to happen on the mortgage side, the real estate side, and of course the stock market side. All let's turn it over to Kristen Snow. She's in the Wright Net Traffic Center. Hello, Kristen. back to the John Sanchez show on his talk 780 caro each with Aaron Clark of edge really the end white milard of on cue home loans. right, once again, coming onto a deadline at five o'clock. Again, we're going to be very surprised if anything does happen. Let's tell you what this market did. And then I'll give you an update on the future side of things is pre market session way the the market is trading saying something positive is going to happen meaning no five o'clock deadlines going to roll around and missiles are going to fly. Okay, as I said, you just joined us, a few minutes before the stock market closed today, ⁓ came out and said they're urging both sides to have a two-week ceasefire ahead of President Trump's 5 p.m. deadline tonight. Once the 5 p.m. deadline at specific standard time is when, know, if straits not open, ⁓ some of the things that he has said ⁓ that he wants, then missiles are going fly on the infrastructure of Iran and so on and so forth. But like I said, as soon as that Pakistanian news came out, market rebounded off the lows, finished down just 85 points on the Dow, just a fraction of a percent loss to 46,584. Nasdaq made it into positive territory, again, after being down a couple hundred points, finished up 22 points to close at 22,017. S &P higher by five at a close of 6,616. Oil, which again was up over $4 worse level, finished up just $0.60 at $1,285 a barrel. Gold was quiet, no safe haven play here. $2.80 gained, $4,686. Ten-year Treasury, Dwight, quiet, just a one basis point increase on the fourth, at a yield of $4.34. Imagine we were quiet in the mortgage market. Take it away. Well, it did start out a little rough, John. We were down 22 basis points at the opening, but Claude, all the way back to, let me just. We clawed all the way back to a plus 13 meaning good so that yes, you know the price went up So I mean 22 to plus 13. I mean, what is that 45? or 30 35 Basis good swing. Yeah, so to the positive and so it only goes this happened right at the very end Just like you were saying I was gonna say it's a core lock it so they must know something is going on somewhere but yeah, so I mean we are we finished at a 6.44 on the third year fixed, John. I mean, that's, you know, just not as high as the not as high as the 6.66 point seven we were looking at, right? You know, we could go to the 599. We were looking at ⁓ five ago. So yeah, but just the one one point increase. So okay. All right. Very good. So pretty relatively quiet. Okay, so here's the update on the futures as I told you before we went to break They're very strong right now at 402 on the Dow futures the Nasdaq futures They are on the upside by 224 points and the S &Ps are up 57 once again futures just started trading at 3 o'clock. They've been very inaccurate What I'm finding is the futures will be down overnight and even into the pre-market and soon as the study opening bell rings at 6 30 then things seem to either dramatically improve if the futures were down ⁓ the market will go down if the futures were up. So ⁓ have not been a real strong indicator. But again, we've during this whole conflict situation is there seems to be a lot of people on the inside that know what the next step of the president is gonna be. We joked about this a couple days ago, I think it was last Thursday, that there were some huge. multi multi multi million dollar trades the last time a deadline was approaching that seemed to come right in and short oil and go long the market and lo and behold they made a whole bunch of money and now the SEC is investigating them so knows something at this point at least that's the way it's looking because I can't imagine anybody guys would be if they didn't have some you know illegal inside information that they would be buying the heck out of the the futures at this point ahead of ⁓ now we have an hour and a half until the deadline hits so yeah Hard to tell. right, Mr. Clark, we've kind of left you unfortunately out of the conversation, so we come back and I'm gonna start with you. We're gonna look at a worst case scenario. God forbid these missiles start flying in an hour and a half. What of impact do you think it's gonna have on buyers and sellers in the real estate market? We'll come over to Dwight, do the same thing, and then wrap up with me ⁓ with exact same question. Let's turn it over to Jack Saban. He's got news traffic and weather. Hello, Jack. Welcome back to the John Sanchez Show on Newstalk 780 KOH with Dwight Mallard of OnCue Home Loans and Aaron Clark of Edge Reality. Once again we finished down just 85 on the Dow, gained 22 on the Nasdaq and have finished a five point gain on the S &P 500. All right, we've been discussing again this looming deadline, five o'clock tonight is when the president has threatened to begin bombing infrastructure sites in Iran. a quarter to one or so today, Pakistan came out and said, time out, let's try to do a two week ceasefire. Iran, recommend that you open the Strait of Hormuz. The president's very tight lipped. He's had, a few interviews after the proposal came out from Pakistan this afternoon and you know, we will see. Futures, still very strong. that some last minute 12th hour deal is going to be reached. Dow futures right now up 392, NASDAQ's gaining 237, and the S &Ps are up 57. So now we're going to move into our respective areas and talk about, God forbid, what happens if the missiles do begin flying at 5 o'clock tonight or sometime thereafter? jeez, here we go. All right, stop, guys. Here comes the breaking news. Yep. All right. futures now up 600 points. And what? I'll let you guys guess. The president has now extended the deadline for two weeks. That's what headlines are saying. He his suspends Iran attacks for two weeks. Just like we thought. OK, well, that's all issue. So now what do talk about since we're doing we got a two week reprieve now? What do know? It's still going to put on the fence. It just people on the fence. No, I don't agree with that. ⁓ everybody, I have at least six refinance applications are all on hold. They're all ⁓ hold. ⁓ got a guy right now, ⁓ now wants to make an offer today and saying, you know, I don't think they're either going to close it in a distant future or I'm not going to buy them and wait for these this thing to settle down. OK, so I don't know. Now, the headline Yeah, there's still no story. I'm just going off the headlines. Trump is suspending the iron attack for two weeks subject to hormones straight opening. Yeah, you go. So there's there's the key so Yeah, I don't know. Let me I mean, is it we will do it if you do this and we're waiting to see if they do that or is it agreed upon? Because I'm not well, I can't pull it up. I'm looking for it. Yeah, I'm not seeing any CBC said this features were up 600. I'm not seeing that. I'm still seeing about the same up 395, but we'll see though. Yeah, so now the okay, so let's go down this path, guys. So now what we're basically going to look at is all right, the president has backed up said, okay, two weeks suspension on this subject to Strait of Hormuz opening. What happens if I mean, we haven't heard a peep out of Iran. What if Iran comes out and says, ⁓ No, we're not that. So then where are we, right? So I think that the, to your point, Aaron, I think that is the ⁓ absolute. Canary in the coal mine here. how long do you give them? How long do you give them before you either recognize they're not opening? I mean, if you're going to give them, I'm to open it. That's what I'm saying. I know. So they're to open all their power if they open. You got it. That's exactly right. No, no. So you already know that's going to happen. Right. Right. Their goal is to economically choke the world. You got it. That's their only play. That's it. That's it. so, OK, now this is why we did not have a definitive agenda today on the show. So now let's go down this path. What happens again we between now and five o'clock we don't hear anything from Iran? Is it still going to ⁓ two weeks suspension or if comes out, which they've done in the past, but again, they've been very quiet today. What if they come out and say, no, here's our demands. and the straight-o-form boost, not one of those, right? So then ⁓ happens at that point? So there's still, yeah, a lot of fluidity going on here, but... The sad part, John, about this whole thing is that whole Artemis thing is just getting kind of staked. ⁓ yeah. And it's just amazing when you look at that. I mean, what they've done is just it's it's fascinating. But yes, I mean, this this this obviously is weighing heavier on everybody. it's it's it's dominating everything. Yeah, to your point, it's it's absolutely dominating everything. OK, Aaron, so so let's let's. Stick to our agenda here. Let's go back to because we again we don't know what's going to happen. You hopefully this thing does get at least postponed for a bit and see what happens. But what does this uncertainty mean for the real estate buyer and seller right now? And you're in the trenches every day. What are you hearing, seeing? And then do I don't want to I'm so sorry to cut you off, Dwight. I want to come back to what you're saying about some of your borrowers because that's right along these lines. So yeah, I'm going go into in launch off of what Dwight said. I mean, there are the buyer's psychology right now that If you're doing something you don't really need to do or it's not something that has to be done right now if you have that flexibility, ⁓ think those potential... perspective buyers are pulling back a little bit and saying, let's give it a day or two. then there might be some good news and they go, okay, I'm ready to kind of like take a half a baby step forward a little bit to see what's up. But your buyers that are still ⁓ stuff that they have to do, it's still within affordability. ⁓ talked about this all the time. They're still hitting the payment. They're still doing stuff because they can. It's not really causing massive swings in their world. And so that's happening. And then you're still getting a lot of, know, Nevada, we've talked about this before, but Nevada is a net positive population growth. Sure, sure. So because of that, you're still getting those people that are leaving a worse situation that are coming here and they're still entering the market and inventory is still regardless of what's going on in the world. Yeah, exactly. Is there a big move? I've Oh, wow, this is bizarre. Now the futures are only at 42. I'm sorry, that was a bad print. That is changing now at 435. Let me interject something because you bring up a great point. And I've put myself in that position because I've posed this question to you a lot as this turmoil has gone on. And I sit there and I think, would I... would I back out, you if I was in, you said, let's say come from California and Nevada, I mean, you got to find, you got to have somewhere to live. Or say I wanted to move up to a larger home or downside. Would situation stop me? ⁓ And we chatting during the break and I want to, I want to just kind of bring everybody up to date what we were talking about. You know, there's a whole society that does not ever remember, of course, being in any war, right? The Gulf War really kind of was the last one that we all remember where we had boots on the ground and so on and so forth. Very short lived, of course. But, you know, as far as world wars and things like that, ⁓ of people, of course, were not around during that time period. So as we don't know what it's like when a country gets, when our country gets drug into a war. We don't know the economic impacts. And as the saying goes, if it's not directly related to me, I don't care about it. That's the way it is. And it's the same thing with the stock market. I have this discussion with people all the time. It's like people do not remember what this market is capable of on the downside, all right? All we know is market gets in trouble, economy gets in trouble, here comes the Fed, the shiny knight on the white horse, and they rescue everybody. We've seen it going all the way back to 08, 09. And so we as a society are not really concerned that the government or whomever is not going to come to the rescue so therefore let's continue on with our personal plans of buying real estate, putting money in the stock market, so on and so forth. And I think that's, you on the positive side that's one of the things that makes our country great is we're very, very resilient because we do have jobs and so on and so forth. But does that tie right into what you're saying, Aaron? Yeah, absolutely. And think for somebody who is more seeking like investment opportunity, these sorts of uncertain times, ⁓ to paths that are unseen normally that create opportunities ⁓ you can get into some ⁓ situations in that arena. And then those people that are making that move from a California like you were talking about earlier, they're going to make that move because it's still, no matter what they have to, it's still the move they have to make that better their life and their situation. So still I don't even know how to say it. You have a buffet of prospective buyers and sellers. And in that buffet, there's some people that it makes sense for, some people that don't. And that's why when we were talking during the break, it's so important that it's not a one answer fits all type of people. It's an answer that has to be specified for an individual person in your situation with you're going through should you buy or sell. And that's what we do when we sit down and have those conversations. Absolutely. up guys bring everybody up to date once again the president has postponed the attack by two weeks once again as we said this is breaking news do you want to tell you this just check the features they're now up 616 on the Dow futures so let's go back to what we were saying before this news broke does the market know something ahead of time boy I was sure sure obvious when we were up over 400 when the show began right nasdaq futures are up 342 s &p's were up 90 but here's the big one Oil prices are tumbling right now. Again, we closed at one hundred and twelve dollars and eighty five cents a barrel. We're now at one hundred and three dollars and sixteen cents down nine dollars and seventy nine cents. Eight point six, seven percent loss. I mean, John, if if mortgage rates go as oil, then you could see some relief tomorrow and you really could get your rates. You could. And let surprises ⁓ something was something term sustainable was announced. Right. I think you would see the opposite as far as world you'd see the money coming out of the bond market driving the yields up. But I think again since the can has been kicked down the road a little bit, yeah I think you I don't think anyone's gonna make a major asset allocation shift and bail out of the bond market at this point. So here's the million dollar question then John, the conflict gets resolved is there anything that would prevent the interest rates to go not to go back to the 599 and start that trend downward inflation inflation oil prices have to have to oil prices have to come down so can be resolved but the oil prices need to that's right that's going to be your whole key and and again you know depending upon how long this thing lasts so we you know we're going to have the month of march where oil prices were higher and that's going to have an impact on inflation so therefore that's going to keep the fed at bay a little bit longer but you know here we are just the beginning of April Dwight and if you know if this thing comes to an end then of course we can see oil prices come down and then inflation in the April data know coming down and therefore the Fed could be back on the table and ⁓ by the way you know new chairman you got new chairman next month yeah that's right that's right exactly perfect storm that's right all right well I'm glad we were live with you I'm glad we were able to deliver the news we will on and get into Dwight's world in mind as we wrap up the show let's turn it over to Kristen Snow right now traffic center. Hello, Kristen. Welcome back to the John Sanchez Show on News Talk 780K, which as we delivered to you breaking news of the last segment, the president has postponed the on Iran, the infrastructure attack that was supposed to happen at 5 o'clock Pacific Standard Time today. ⁓ He's it by two weeks, subject to the Strait of Hormuz being opened. ⁓ So we were having a nice little discussion during the break that we'll bring you up to date on. first, let's you what's going on. ⁓ Dow now up 702 points. The Nasdaq's rising 415. S &Ps up 98. And ⁓ oil now down $10.16 a barrel, a 9 % loss at 102.79 a barrel. So what we were is, and Aaron, you brought up a great point. This is, of course, a very, very vague news headline coming across. We have not heard from the president. heard from Iran, we have not heard from Pakistan. What happens, I mean, is he going to say, all right, you've got two weeks to get the straight open, right? Do have two weeks to get the straight open? Or do we? can't start now. Start now? Yeah, I mean, to me it's got to be immediate or 24 hours or yeah. Yeah, you would think yeah, that would come across. I would imagine here in the next hour, maybe the most that we should hear something out of the White House and some more details about this. Because yeah, this is a very vague headline. And I'll tell you what, guys, this is I'm not I'm not seeing the headlines coming across a lot of my normal news sources. So I think everyone's just kind of these news sources are sitting back right now going, let's get a little more detail before we really break the news on this but boy and if you just joined us we were joking because the beginning of the show not just a few minutes after the show began ⁓ also Dow futures you know they start trading at three o'clock in the other futures ⁓ and futures were up over 400 points and we were joking our first couple segments like huh somebody knows something like this five o'clock deadline is gonna come and go do I we have a couple minutes let's bring you into the fold of this thank you for your patience same question you know that we that we were discussing with Aaron We find ourselves in a situation where uncertainty exists. again, please share the story of what you wait. Some of your borrowers are telling you right now. Yeah, sorry. You know, I don't know if it's the perfect or the smart play, but I mean those that to Aaron's point, that don't have to do anything like maybe they're just doing a refinance just to get a lower rate right now. They've held off. They just put hey, hit the pause button. You know, we were in nice territories five weeks ago, John, and we go to 6%, but and then, you know, I've got one specific Individualist is saying hey, I want a longer. It's an inventory home. I want a longer closed date because I want this to get resolved I think I got a better chance, but you know we talked off the air know John. I don't know that a 700 plus point stock market Increase is good for the bond market right I mean, that's what people don't understand even and even though you might get you know We were talking about fair even if you get might get some resolution to conflict It doesn't mean that we're gonna go right back to kumbaya and ⁓ rates gonna go down I mean, I think there's a possibility if we can get this uncertainty. But I think now we're out months, aren't we, John? And not days or weeks, we're out months probably before we start to see some real gains or improvements. Yeah, I think you're looking towards the of the year, to be honest with you. I think because you're going to go through, again, depending on how long this lasts, you're going to go through, like I said earlier, you've got the month of March's data. You're going to have April's data. I mean, I'm pretty confident this thing should continue on through at least through April. So you're going to have a couple of months of data showing inflation is kicking up through your CPI, PPI. I'm sorry to cut interest rates. And the feds gonna go, hey, you know what, let's see, know, one two, as they always say, one or two reports is not, you know, indicate a trend. So ⁓ they're gonna in no hurry. ⁓ Then you're get Kevin worse coming in in mid May. Like I said, would not be surprised if the day he sits down at Jerome Powell's desk and does an emergency. you do this for a living. yeah, yeah, that's right. That's right. So you know, if just look at the economic data, Dwight, I would bet my bottom dollar, you're not going to see any help from the Fed until, you know, later in the year, November, December, maybe October, the earliest. But on the on flip side of that, I'll hedge my bet by saying, don't be surprised if we get emergency rate cut, you know, ⁓ and use the war as the example, they can say, look, we got to cut these rates, we're, you know, we're spending hundreds of billions of dollars on this. And so But John, what's interesting about that potential move then is you start now looking at a 2-1 temporary buy down again, temporary buying down the interest rate ⁓ that you think they're going to go down and you'll be able to get the counter cheaper 8, 10, 18 months. Therefore, you don't lose any money by doing a temporary buy down. Yes. So those are coming back now. People are going, OK, maybe I just do that. Maybe a one year, two year. absolutely. My advice on the stock market side, again, people are very resilient don't know if it's just our clients are overall but I think stock market is very indicative of our clients no one's panicking no one's really jumping in saying oh my god I got you know this is greatest buying opportunity I think everyone's kind of like what you guys are saying in your world there's kind of holding Pat right now waiting to see what happens get a little bit more you know confirmation and then make a decision what they want to do I'll wrap you up with the Dow futures up 678 the NASDAQ are by 404 and oil prices are down nine dollars and 66 cents at 103 29 a barrel again closed at 112 85 great job fellows will do it again tomorrow on the John Sanchez show. bless have a great afternoon. Equal housing lenders subject to credit approval and MLS ID number 241259 guaranteed rating DBA on queue home loans and MLS 2611 and MLS consumer access.org 775 to 402022