Market Update from Joseph Proppe , Prime Lending Production Manager NMLS# 58327
This week brings encouraging news for homebuyers and the real estate market alike. Mortgage rates have taken a dip following positive market reactions to the President-elect’s Treasury Secretary nomination, signaling potential opportunities for buyers. Now is the perfect time to jump-start your clients’ home search with a mortgage approval. An approval letter allows them to act confidently and decisively in today’s competitive housing market, positioning them to secure their dream home without delay. Reach out to me today for expert guidance and a smooth path to homeownership.
| Mortgage rates fell this week, as the markets were pleased with the President-elect’s pick in Treasury Secretary, Scott Bessent. Bessent looks to favor a strategy of growing the economy, reducing government spending, and adding oil production to the economy. This will address the national debt and deficits and will hopefully help inflation continue to cool. Wall Street is on board with the nomination, and it appears it should be an easy confirmation process. To contrast his positive Treasury Secretary nomination, the President-elect announced that he plans to put on a 25% tariff on Canada and Mexico goods. He also announced an additional 10% tariff on all products from China. There will likely be more of these announcements in December; it will be interesting to see how the markets respond to them. At some point, the President-elect will focus on reducing interest rates. The interest costs is a large part of government deficit and high mortgage rates are a large impediment to home buyers. As we move into December, the markets will likely focus on the Fed’s decision to cut rates in their December meeting or if they will pause. | |||||||||||||||||||||||
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Joseph Proppe,
A registered originator with PrimeLending
Production Manager NMLS# 58327
Office: 315.741.3427
Cell: 315.727.5872
Professional Career Center is a New York State licensed Real Estate School located in Syracuse, New York for over 30 years. Over those years we have trained thousands of Real Estate Agents, Brokers, Appraisers, and Assessors. We offer our New York State approved real estate licensing courses in three formats: classroom, live stream via Zoom, and fully online. Our online courses are ARELLO approved along with being approved by New York State. Our online instructors are experience New York State real estate professionals and are Certified Distance Education Instructors by IDECC. Visit our website
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