Well, we just got an early Christmas present, didn't we? One of the biggest mortgage

rate drops in history just happened. Of course, we've been dealing with these higher

interest rates over the past year to almost two years now and it's been

devastating for housing. It's what not devastating. Here's what it's done.

It's put everything in a holding pattern, right?

So all of those investors who wanted to jump in

and buy rental properties had been sitting on the sidelines

pushing off that purchase because of interest rates.

It also kept people in their homes longer who didn't want to sell and make that move because

they thought, well, I'm never going to get an interest rate like this again, right?

They're at 4% and like, well, we might as well just stay here for another few years.

Can you imagine literally keeping your whole life on hold for a year and a half while you have to deal with what the Federal

reserve does and it also created this massive bottleneck of properties.

There's enormous demand for people to buy properties. We have not enough properties across the United States. We need

five million single family homes. We don't have them. And so there's enormous demand. And the thing that's

been artificially kind of keeping it all bottled up like a

fizzy bottle of soda is these interest rates right now. So we just saw one of

the biggest two-day drops in rates, mortgage rates in two decades over the past few days here.

And this is amazing for the 30 year fixed rate.

Now obviously all of this comes because of the Federal Reserve's decision.

Jerome Powell this week talking about the economy,

talking about where things are going.

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