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ON THE 
HOUSE

12.19.23

It’s Separation Season

This is the time to create distance between your competitors and the old version of you. Thanksgiving, Christmas, the New Year’s are holiDAYS, not holiMONTHS! Even the current version of yourself wants to take it easy, but the max out version of you is ready to run laps around those people and take advantage of the separation season. You can become a new you in 2024 without giving up the fun of the holidays!”

Ed Mylett (global speaker, entrepreneur, 2x bestselling author)

If this quote inspires you, see the latest episode of his podcast here!

I'm James Carmody

If you'd like to get in touch with James Carmody, visit his website here

Fixed-Rate
Second Mortgage

The best part: Synergy One is waving underwriting fees on all fixed rate second mortgage applications during the month of December!
Visit S1L.com for more info.

Fixed-Rate
Second Mortgage

Industry Insights

Rates Plummet to Lowest Levels Since May, 2023 After Fed Announcement

Recap: Mortgage rates took a big nosedive after the Fed announced it wouldn’t change interest rates. The drop happened because the Fed hinted at a friendlier approach in the future.

My Take:  If you keep scrolling down on this newsletter, you’ll find I made a video that details my thoughts about this topic!

Read more about it here: Rates Plummet to Lowest Levels Since May, 2023 After Fed Announcement (mortgagenewsdaily.com)

Shark Tank's Barbara Corcoran

"You're 'Dead Wrong' if You Try to Wait for a Better Deal on the Housing Market"

Recap: Real-estate expert Barbara Corcoran advises against waiting for further drops in mortgage rates and rent prices, urging prospective buyers to act now to avoid potential higher costs in the future. Corcoran warns that attempting to time the market could backfire, as a significant influx of buyers is expected once interest rates decrease further.

My Take:  If you are thinking about buying in the next couple years we’ve got a nice window of opportunity now before rates drop significantly next year. The best financial move is to lock your price in now then restructure the debt later when rates comes down. You also have sellers that are willing to work with buyers. That willingness will go away when rates really drop!

Read more about it here: Housing Market: Barbara Corcoran Says You’re ‘Dead Wrong’ to Wait for Better Deal (businessinsider.com)

Video

My Bold Predictions for 2024

James Carmody Video Link mobile mockup
Click to watch video
James Carmody Video Link mobile mockup
Click to watch video

Based on my 20 years of experience as a successful loan officer, here are my predictions for the housing market in 2024:

  • Conventional fixed interest rates are going to continue to fall from the mid to low 7% into 6%, and possibly high 5% range prior to the presidential election.
  • When those rates come down and we get into the low 6%, you’re gonna see a lot of buyers get off of the sidelines and jump back into the market.
  • Once we get into 5% the floodgates are open, buyer demand will spike. That means home purchase prices will go up.
  • My prediction on prices? I think we’re gonna see between 8% to 10% appreciation by the end of 2024.
Watch the full 2024 Predictions video HERE!

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