FED left rates unchanged

[Dublin ohio]

The lower rates is not producing any more appraisal orders in my area - not yet anyway.

I saw an uptick in the past 2 weeks. Some of my broker friends said their inquiries are way up. A number of articles have read say the decrease in rates we saw before the Fed reduction was in anticipation of the Fed cutting rates. We shall see

 

[Joe Flacco]

No uptick for me. Not having a good year.

 

[Lil Rhody]

The lower rates is not producing any more appraisal orders in my area - not yet anyway.

Give it a couple of weeks. We saw a decent spike in originations a few days after the rate cut. It usually takes a few weeks for those originations to materialize into appraisal engagements.

 

[Charles West]

I heard this morning mortgage originations increase by 11% last week so trend is in the right direction.

 

[Sandra Koutsopoulos]

I'm also doing RE sales, and have moved one of my listing prospects to a signed listing yesterday, and am ready to crank the other one up next week. Both had the Doom and Gloom Blahs, though I told them both that I expected a .50 point rate drop mid-September was likely. Now we're facing the holidays potentially, so I expect some activity in the coming weeks, but realistically in my warm weather market, I expect biggest increase in buyer activity will be after Jan 15, 2025.

Meanwhile, my appraisal inquiries have been up on both refi's and purchases, and orders are up by about 10% or so. We should start building some momentum now.

 

[J Grant]

Seeing a little more action.

 

[Zoe]

You know builders are happy. They are usually on a floating short term interest rate. Home equity loans probably got a drop in interest rates.

 

[Zoe]

I have seen grocery prices fall a little recently. I have not studied it nationwide, but I am in local grocery stores frequently and have noticed a drop in prices. Fresh Beef is still really high but it may have fell slightly.

In several categories, I have seen grocery items with lower prices. That is probably directly related to lower borrowing costs from lower interest rate.

 

[Zoe]

Egg prices are up. You may not eat eggs but they are up due to bird flu I think. I think it has killed like 101M chickens.

Soaring US egg prices put pressure on consumers, businesses

Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles.

apnews.com

 

[Sandra Koutsopoulos]

Egg prices are up. You may not eat eggs but they are up due to bird flu I think. I think it has killed like 101M chickens.

Soaring US egg prices put pressure on consumers, businesses

Chickens may not be able to fly very far, but the price of eggs is soaring. A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles.

apnews.com

IMO factory farms are a scourge. If an illness shows up, the entire population is killed. Same with cattle, turkeys, and other farm animals. Their lives wasted and no food for ppl either. There was an incident in Texas some months ago where thousands of cattle were killed... Too many animals too close together invites disaster. Family farms better, healthier for the animals for the most part, without wasting thousands of animals lives for a "small" mistake or infection.