When Will Mortgage Rates Finally Drop? What to Expect!

Hey folks, Dan Frueh here with your closing bell for October 16th, 2024. And so we saw mortgage rates, basically they're just flat. They're flat as a pancake and they've been that way probably over the last three or four trading sessions. If you really want to know why, check out my newsletters. I post these every day. You can check these out. So in this video today, I'll post you down below. I'll put these links down there. This video, they come out every day, Wednesday. Thursday morning is the week's biggest volatility risk. There's really been no data out over the past, you know, probably four or five business days. So tomorrow we're finally getting some news out. And what is that news? It's right through here. It's right in the wheelhouse of the federal reserve. It's letting us know retail sales. Well, that's the consumer part of the equation right here. Initial jobless claims. So we want to know how the job market is, is doing it this time, right through there. Retail sales is the only other thing in. We're going to see how those go. Is the consumer starting to pull back or what are they doing there? So that's what I want you to do, but I will have this newsletter down below. So check it out. Let me know what your thoughts are. I can publish this every day, or I can do just post it once a week if you'd like that. So let me know your thoughts on that part of the equation. But really the only thing coming out is tomorrow. I'm also going to post another article I just posted. And it's basically why you're so confused and why I'm so confused, why mortgage rates aren't really moving. Okay. So I, I take a deep dive into this. You can see it down through here. It's, it's basically determined on, you know, what the federal is going to do. And they're monitoring right now, the CPI, which is consumer inflation, the CPI year over year, and also the jobs numbers. So that's what they're focusing in on. They take a deep dive in both these articles. So check those out, but tomorrow we're just anticipating how the retail sales numbers are going to come in as well as initial jobless claims. Other than that, there's really no news in the market. Some good news I have for you right now, the MBS market is ticking up. It's up about 10 ticks. That means mortgage rates are going to ease just a little bit. They're not in these rates just yet, but they will be there here shortly. So MBS is are up 10 ticks. So that'll be some changes there on the stock market. We have just nothing, but green all the way across the top, top as well as cryptocurrencies. It's trading at 67, almost 68,000 a coin right now. But the good news continues is on that oil front, it's staying right down there at those low levels at $70 a barrel. So we'd like that for the inflation numbers. So that's basically the entire piece of the news that we're seeing right now. Let's go to the finances. The one good piece of the market right now is a lot of the financial sector is doing pretty darn well. We have the financial stocks and the bank stocks coming out. And the concern was, are they getting a little, you know, are the delinquencies starting to ramp up? Are we going to start and see foreclosures? Is consumer spending a little bit out of control? Well, based on all the news that we're seeing right through here, I can, I can point it out for you. More financial stocks are coming in with earnings and they're all beating. Okay. So let's, let's just take a deep dive on, this is the homepage of Yahoo Finance. So we go down through here, discover financials, earnings beat Wall Street's expectations. We got that. Let's go down through here. NVIDIA. I'm tired of hearing about NVIDIA, but whatever. Morgan Stanley shares soar. Okay. So just two of the top, you know, two top companies right through here, discovered quarterly profit. Everybody's coming out with these earnings that are really, really good. So the, the concerning part of the, the thing that we were focusing in on to see if it was a concern is delinquencies. So we're not seeing a spike in delinquencies. We're not seeing a spike in, in job losses. So basically the economy's looking okay right now. So we're going to continue to watch what the federal reserve does and does forward, forward looking. So tomorrow, we're going to take a little bit of a dive into the stock market. We're going to check out to see what you voted for. So if you haven't voted yet, go to my YouTube channel. You can go to YouTube, just look up Dan Frio and in there on the community page, I'm going to show you right where to find that. And you're going to go in here, Dan Frio on the community page. And let me know what you guys want me to talk about because in here on the community group, I just posted, do you guys want me to talk about, what do you want to learn more about? I'm tired of talking about real estate every day, every day. We need to broaden our horizons a little bit. So I want to know, you guys want to learn a little bit more about the stock market in general. Do you want to learn cryptocurrencies? This is really risky. So this is, it's on speculative money. So I put this in here just to see what the response was. So I don't really want to dive into that because that's just for speculative money. And here at the channel, we want to teach you guys how to build wealth. This is actually, once you get there, how to, you know, put a piece of your portfolio into there. ETFs, a basket of stocks in a financial sector, in a sector that you like. Maybe you like financials because the spread right now is getting a little bit bigger. Short-term rates are dropping. Long-term rates are going up, meaning the spread for banks, as you're seeing right through here, the earnings, they're beating everywhere. So bank stocks might be pretty good right now, financial stocks. So you can look into ETFs for that, utility stocks and so forth. And then the AI trade, everybody's talking about NVIDIA. What's the next NVIDIA? I'm not, I do own some NVIDIA, but I'm reluctant to put any more to work in that area. So not really concerned there, but we're going to still have a focus in on real estate, but I want to broaden our horizons a little bit. So you guys understand all pieces of the market so you can help build your family's wealth. So that's our report for today. Sorry, it was a little bit of a short one, but there's not much juice to talk about today. And I don't want to waste your time. Just going to want to give you the important information. So the guts of the information right now is going to be down below. You're going to check out, check out the description, what Thursday's morning means for the markets for tomorrow. So check out what that means. And then why are rates just completely stuck? You're going to find out two fantastic articles that really take a deep dive into both those areas. So hope you enjoy those. If you've got any questions, please reach out to me. I'd love to help you in any way I can. But if you want to find out more about me, my team, even Kyle Seagraves, we're all on the same team. Visit us at winthehouseyoulove.com. You can get started right through here. You can get pre-qualified. You can click this. We do have tools and we just had Kyle update the tools in here. We have two grants out there right now. One's for Illinois only. So check that out. It's $10,000 to help you with the down payment and closing costs. And then we had grant finder that goes all over the country and it will help you kind of dissect, you know, what down payment programs are really worth the while. And these are three that we handpicked. So hope you enjoy those, but please check out those articles that I posted down below. I think you're going to learn a lot today from all that data. So thanks for watching guys. Thanks for those that joined us on the live event today. I'll be back tomorrow at the opening bell to let you guys know how the retail sales came in and also the unemployment numbers. So good to see you then, but otherwise have a fantastic evening. See you later. Bye-bye.