We follow the rate drop and down to Reno Mark Listening to the wind – of change.
Mortgages reached our target of 7% because the Fed acknowledged the need to reduce its policy restraint, and the radical climate agenda failed at COP28.
Near term, without any fresh data to feed the feeding frenzy, look for a correction to 7% mortgage rates that hit 6 5/8. In 2024, expect a drop to 5.5 depending on deflation exported from China. The big change in rates gives hope to renters to buy.
Where homebuyers of tomorrow dream away (dream away) in the Wind Of Change.
Song: Wind Of Change (1990) Scorpions
Les Parker, CMB
Former senior vice president of a national technology and service company.
Les Parker is the Managing Director at Transformational Mortgage Solutions Advisory Board Member for Ainsworth Advisors; and has served as the Senior Vice President of Industry Relations and Consulting at LoanLogics, a technology and services provider focused on improving mortgage loan quality, performance, and reliability throughout the loan life-cycle. His responsibilities included managing the company’s life of loan analytics and monitoring capabilities, overseeing consulting services, contributing to the strategic planning team, and communicating with industry leaders to develop and maintain positive relationships. He focused on identifying threats and strategic opportunities.
Parker has executive mortgage banking experience in capital markets, servicing, operations, production, and financial management. Parker has served as director of the largest private issuer of CMOS. His educational background covers music, religious studies, mortgage banking, mathematics, and business administration. Parker holds a BBA in Finance, and other degrees, and has held numerous securities licenses. Parker is a Master Certified Mortgage Banker, a designation conferred by the Mortgage Bankers Association. Parker writes, speaks, and provides audio content, Since the late 1980s, he publishes a daily newsletter connecting global macroeconomics to the US interest rate movement.