You don't want to buy things blind.

I think that's the mistake a lot of people make because back in COVID, you probably remember, people were buying things off of FaceTime, off of Zoom, like just from touring these places, just because the next day it would be worth more. We're not in that market anymore. Everything's kind of stabilized or some markets are declining, right? So if you're in one of those markets, then you're trying to take advantage of that. You really want to go check out the market and see, okay, where's the school here, right? How is the neighborhood? What are the type of people walking around, right? You want to kind of see what's going on in the neighborhood to make sure that you're going to make that that asset that you're buying is going to be there and not light on fire.

Welcome to the Rich Strummers Report where we talk real estate, business, and wealth building,

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No fluff, no BS.

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All right, guys, today I got some good friends of mine coming on the podcast, not for the second time, but for the third time. And they're doing big things. They are the founders of convoy home loans. We're going to talk all things, capital markets. We're going to spend a lot of game, a lot of value. I got Jonathan, yo, in Dustin Rosenberg. Gentlemen, welcome to the show. Thank you for having us on.

Super excited.

It's been a minute, dude.

You guys were on, like, episode like five or six in the early days. It came on a second time, and here we are a third time, man. I appreciate you guys so much. And, guys, by the way, real quick, if you listen to this, They're going to be dropping a special for the audience,

free appraisals through convoy home loans.com. But to kick things off,

we saw three consecutive rate cuts. and a special for the audience, free appraisals through convoy home loans.com. But to kick things off,

we saw three consecutive rate cuts to end 2025. We've been in a high rate environment for 48 months now.

New Fed chair, this guy Warsh coming in in May, taken over for Jerome Powell. How many rate cuts do you guys think that we will see in

26? Let's start with you, Jonathan. I think we're probably going to see maybe two for 75 total.

Okay. Yeah. Okay. 0.75. So three for 75. Yeah. Okay. Total. And what do you think, Dustin?

I'm going to go right with what John said. I'm going to go with two, whether it's 50 or 75, but two is probably the max I see. Okay. Now, the important question is what are we going to see with the spreads this year? Because obviously, you've got the federal funds rate. You were talking about the bomb market before we started recording. What is the true number that people should be paying close attention to? I think right now, the spreads have already come down, right?

Historically speaking, they've been around, I think, 300-ish, right, on the 10-year treasury versus mortgage rates. And now, you know, it came down to 200-ish. We're seeing around, what, 150-ish right now? Right now it's like 210. Histor like 210 historically it's like 180 but we've seen it

at as high as 300 in the last three years and Dustin what causes spreads to go up and spreads to go

down so it's market wall street investor lender appetite whether they want to be fat or not

is really what it comes down to and and then break that down another layer. So how much of it has

to do with confidence in the rates going down in the future versus going up? So the biggest thing is

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