Well, that was an interesting week in the mortgage world!
Hey guys, Oklahoma Mortgage Group checking in. Anyone else feel like they're on a roller coaster with these interest rates? Remember just a little while ago when everyone (including the Fed!) was saying rate cuts were on the horizon for 2024? That idea got tossed out the window faster than my teenager's dirty laundry. This week's been a whirlwind! Here's what you need to know: Rates are acting a little crazy: We had some good economic news, and BAM! Rates started bouncing around. You know the drill - strong economy usually means no big rate drops anytime soon. The Fed's getting chatty: Even Fed Chair Powell had to admit that the recent numbers have been surprising. They're not sure if those rate cuts are even happening anymore. Yikes! It's not all bad: The market is still being a bit dramatic. We'll have to see what next month's big economic reports bring before we panic buy a bunker for our interest rates. Bottom line for my Tulsa real