CHANGING TIDES

"My new motto is: When you're through changing, you're through."

— Martha Stewart

Coming off the heels of an incredible weekend visiting Tommy at TCU with Tom, Natalie, and Quinn for a family weekend and rolling into a fast-paced work week where the FEDS lowered rates far more than expected on Wednesday, thus ushering in new expectations for the markets.

The Fed started the rate cut cycle with a decisive 50bps cut in an 11-1 vote.

The cut came in slightly larger than expected, with markets pricing a 62% probability of the Fed delivering a 50bps cut, rather than a 25bps.

The 30-year fixed-rate mortgage averaged 6.2% last week, down from almost 8% in the fall of 2023.

This may be the biggest opportunity for some to lower their monthly cost of housing via re-financing if they 'dated the rate, married the house.' Those financing now may be able to negotiate a lower rate later if/when rates drop further (WSJ).