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024 - The Fed Held Rates Steady. Here's What to Tell Your Buyers
The Fed held rates steady at 3.75% to 4%. Scott recorded this within an hour of the announcement and Chair Kevin Warsh's press conference to break down what was said and how agents can use it with buyers.
In this episode:
- Why the Fed rate is a 24-hour rate between banks, and why it doesn't move 30-year mortgage rates directly
- Inflation as the number one driver of mortgage rates, and why two Fed members voted for a hike
- Why a Fed hike can sometimes bring mortgage rates down, and a cut can push them up
- How to answer a buyer who says "I'm waiting for the Fed to lower rates"
- Why locking…
The skinny
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