This week on the Knowledge Brokers Podcast, special guest Lisa Chinatti joins Byron Lazine and Tom Toole to discuss the return of 7% mortgage rates, the impact of low inventory, and the mortgage rates forecast.
If you’re an agent wondering what to say to clients about today’s market conditions—particularly those thinking about taking a break from home shopping—this is one episode you don’t want to miss. These three have seen it all, and they’ve learned how to make the most of every market.
That’s not to say it’s “always a good time to buy.” But it helps to know what seasoned and successful professionals would say in a market that has gotten tough.
The conversation wraps up with the question of whether the Fed has screwed up and made things worse, considering a growing number of people now expect them to announce another interest rate hike of 50 basis points at this month’s FOMC meeting.
Click on any of the timestamps below to watch:
00:36 Mortgage rates at 7%
01:54 “You are in the business of information”
04:16 Refi rule of thumb
13:17 What to tell buyers thinking about taking a break from home shopping
16:12 Multiple offers are back
17:34 Activity always breeds activity
21:54 Baby Boomers and condo owners
31:49 Pain points are what cause people to move
33:08 Has the Fed screwed up?
37:32 More people expecting a rate hike of 50 bps
39:19 Scripts for lockbox communities
47:10 How are you changing your approach in 2023 to win more listings?
Click here to watch the full episode.