What is happening with with interest rates? And what new loan products are hitting the market?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 20 September 2022
⏱️ 43 minutes
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Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. |
| 0:11.3 | I'm your host, Ken McElroy, joined by my co-host, DeNeil. |
| 0:15.4 | Let's get right into this episode. |
| 0:18.0 | Hello and welcome to the Ken McElroy show. |
| 0:24.0 | I'm DeNeil here with Matt actually. |
| 0:32.3 | He is our guest for today. He is a friend of Ken and mine and he is a loan specialist and he's the one that does all of our residential mortgages. So welcome, Matt. Thank you very much. But we want to jump |
| 0:38.1 | into rates today because I think everyone's questions are what's happening with rates, what can |
| 0:45.3 | they expect, but then also you and I this summer had talked about some new loan products coming |
| 0:50.2 | to market, which are very interesting that I want to get to as well, because a lot of people |
| 0:54.4 | listening could probably benefit from them. Absolutely. So the Fed and interest rates, what the hell's |
| 0:59.6 | going on? Well, you know, Wednesday, there's another Fed meeting. They're talking about increasing the |
| 1:05.6 | Fed rate, again, 75 or 100 basis points. So, you know, what that means to the consumer is things are going to cost more. |
| 1:13.3 | They're trying to stop the push of, you know, the home prices continuously inflating. |
| 1:17.9 | So the only way to do that is to increase the Fed rate, which doesn't always mean that the mortgage rates are going to increase. |
| 1:24.6 | But, you know, that's where the common trend's been. |
| 1:27.0 | The last three weekends, the mortgage- that's where the common trend's been. The last three |
| 1:27.6 | weekends, the mortgage-backed securities have just been getting crushed. And for the consumer, |
| 1:33.3 | that means they just keep increasing, you know, and they're not stopping the bleeding. So, you know, |
| 1:38.3 | the Fed's got to step in. The banks, you know, are obviously going to keep raising the rates until |
| 1:42.7 | we can get to that threshold where, you know, they're not going to keep increasing the home prices. Well, it's interesting |
| 1:48.3 | because from what I've understood and noticed is that just because the Fed increases the rate by a certain |
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