The Real Estate News Brief: The Latest Decision on Rates, What’s Next for the Fed, Mortgage Rate Ripple Effect

In this Real Estate News Brief for the week ending November 4th, 2023... where the Fed stands on short-term rates, what the Fed is expected to do next, and how mortgage rates are creating an economic “ripple effect.”   We begin with economic news from this past week. The headline event was the Fed’s monetary policy meeting. As many economists expected, Fed officials kept the short-term Federal Funds rate unchanged at 5.25% to 5.5%. That’s a 22-year high. Fed Chief Jerome Powell said that he expects the economy to soften in the coming months which will help lower inflation. And he appeared to suggest in his comments that the rate-hiking cycle is over although further rate hikes haven’t been ruled out...   ...That’s it for today. If you want to read more about these topics, check for links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! We always invite you to join RealWealth as well. It’s free to join and can help launch you on a path to financial freedom by investing in single-family and small multi-family rentals. Just go to newsforinvestors.com to sign up.   Links:   1 - https://www.marketwatch.com/story/fed-holds-interest-rates-steady-keeps-further-hikes-on-the-table-4cf1e8c3?mod=economy-politics   2 - https://www.cnbc.com/2023/11/01/fed-meeting-today-live-updates-on-november-fed-rate-decision.html   3 - https://www.marketwatch.com/story/jobless-claims-climb-to-7-week-high-of-217-000-but-layoffs-still-quite-low-0e078397?mod=economy-politics   4 - https://www.marketwatch.com/story/job-openings-creep-up-to-9-6-million-still-lots-of-demand-for-labor-7771c66a?mod=economy-politics   5 - https://www.marketwatch.com/story/jobs-report-shows-150-000-new-jobs-in-october-labor-market-cools-448187ac   6 - https://www.marketwatch.com/story/u-s-home-prices-rose-for-the-sixth-month-in-a-row-case-shiller-says-2060f19b?mod=home-page   7 - https://www.marketwatch.com/story/u-s-construction-spending-rises-for-the-ninth-month-in-a-row-in-september-b442a7a6?mod=search_headline   8 - https://www.freddiemac.com/pmms   9 - https://www.marketwatch.com/story/demand-for-adjustable-rate-mortgages-jump-10-as-mortgage-rates-stay-stubbornly-high-74d9bc7a?mod=u.s.-economic-calendar   10 - https://www.bisnow.com/national/news/commercial-real-estate/as-decades-high-mortgage-rates-quash-home-sales-a-domino-effect-for-the-us-economy-121307 11 - https://www.zillow.com/research/years-to-profit-33215/