At Home With Lisa-Inflation Is Being Very Stubborn!

Oh, let me tell you about the rollercoaster ride in the interest rate market this month! It's been crazy. We've seen these huge swings back and forth, you wouldn't believe it. So, towards the end of last year, the Fed was all like, "Hey, we're gonna start cutting rates in the first quarter of 2024 because inflation seems to be calming down." And everyone was like, "Cool, cool," and mortgage rates dropped to some of the best levels we've seen in ages.

But then, plot twist! Inflation decided to be a total party pooper and started picking up steam again. Like, seriously stubborn, you know? So, after the latest pow-wow at the FOMC meeting, the Fed was like, "Hold up, maybe we'll delay those rate cuts until the second or third quarter of 2024." And remember those 'Higher for Longer' comments? Yeah, they reiterated that, and suddenly, rates started creeping back up.

So, here we are, with the Fed sticking to their plan to cut rates in 2024, but inflation's still running hot, leaving us all scratching our heads about when it'll actually happen. Short-term? Oh, buckle up, because rates are gonna be all over the map until we start seeing some signs of inflation cooling off. Crazy, right?

I'm Lisa Longest with Realty Navigator. I am a full time Realtor® GRI® RENE®, C2EX®, CDPE® and PSA® in Anne Arundel and Queen Anne  Counties.  I am here for all your real estate needs. If you are looking to buy, sell or question me about the market in your area, feel free to contact me. I am located in Annapolis and Kent Island. My email is LisaLongest.RE@Gmail.com and cell is 443-786-4200.  
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