🎙️ E70:🚨 💰The MLS Is Dead? We Just Found 3 Potential Deals!

So a lot going on in the market.

I'm sure everybody's aware that we had a interest rate increase last week.

are paying attention to that kind of thing.

If you're borrowing money right now, you are definitely paying attention to the interest rates.

If you, I like to go, I don't know where you're looking, but I like to go to Freddie Mac.

Look at the 30-year mortgage.

As of Thursday, 12 o'clock in the afternoon, the average interest rate on a 30-year conventional mortgage, any wild guesses?

7.04. You're super close.

7.03. Oof.

You overbid by one one hundredth of a percentage point.

Man, what do you what do you think about that? I mean, do you do you see these rates just going up and up and up? And how do you how do you see that affecting real estate markets right now?

I don't I mean, I watched a reel last week and it was talking about your mortgage payment, I think, in twenty twenty one compared to your mortgage payment now.

And it was on a certain mortgage.

I can't remember what, maybe it was like the average cost, the average sales price of the house back then.

And now it's like a thousand dollars more.

And that's not counting taxes and insurance.

That's just the change in interest rates and the change in average sales price for these homes.

You

think about just the regular consumer who's out there saving their money for a down payment, working two jobs.

They got all the same bills that everyone has, groceries, gas, insurance.

just living expenses are just so much higher these days and then you save your money to get into your home a dream home starter home whatever it might be and let's say you've been saving for like two or three years

yeah

the house that you were saving for back then is now like out of reach yep it's not because you did

anything wrong

right you did everything right saving your money um you know managing a budget um not not being in any consumer debt so you're that person is doing everything right and then they go look for this home that they've been you know dreaming about yeah and it's not available you know they gotta do it gotta lower their expectations right so i don't know man we were talking about this at the the deals uh meet up on thursday yeah we're just talking about it and the question was What has to change? And I don't think it's one thing, right? But what has to change in order for this market to, I don't know, be less volatile? Some people are saying, hey, this is the way it should be.