Big shifts in the stock market had clients — and, therefore, real estate agents and brokers — worried yesterday. Oil dropped to its lowest price point since 2003 (below $27 a barrel), and stock sell-offs around the world led to some wild fluctuations. Big shifts in the stock market had clients — and, therefore, real estate agents and brokers — worried yesterday. Oil dropped to its lowest price point since 2003 (below $27 a barrel), and stock sell-offs around the world led to some wild fluctuations. So what’s it mean, and what should you tell clients?
We have liftoff. The long and short of it follow — short first. The immediate reaction to the Fed’s first hike in 1- years, from a band “0 percent to .25 percent” to .50 percent: The prime rate moved mechanically to 3.50 percent, rising in lockstep as it will after each future increase in Fed funds.
We have seen two new reports in the last 48 hours about the homebuying intentions and behavior of younger households presently renting.
