To find out if now is the time to buy, check out this week’s mortgage highlights:
- As expected, the Federal Reserve lifted its Fed Funds rate another 75 basis points last week to 4.00%. Markets began to celebrate at the release of the Policy Statement.
- Changes in the wording were immediately interpreted to mean that the Fed could be slowing the pace of rate increases soon.
- Stock markets rallied, and bond yields dropped. Then the Fed Chair’s press conference began, and within a few words, markets reversed.
- Chair Powell made it clear that the Fed was not nearing the end of its war on inflation.
- He hinted that rates could be lifted even higher and remain elevated longer than the market previously estimated.
- Experts now believe that the Fed could raise its Fed Funds rates as high as 5.5%.
- While the ISM indices did show signs of economic slowing, last week’s employment data continues to highlight the seemingly intractable nature of our current labor market situation.
Time to Buy Real Estate in the Metaverse?
Not that long ago, a piece of property in Sandbox, one of the largest metaverse platforms, sold for $4.3 million! Is it time to move from physical real estate investments to virtual? According to billionaire investor Mark Cuban, purchasing virtual real estate is “the dumbest s— ever.” Virtual-world real estate can expand infinitely, while physical real estate is a scarce resource. If you are considering investing in real estate in the physical realm, call to discuss real financing.
As always, Aragone & Associates is here to assist you with whatever your Real Estate needs may be. Do not hesitate to reach out!