Byron Lazine, Tom Toole, and special guest Lisa Chinatti discuss the return of 7% mortgage rates, persistently low inventory, and the mortgage rates forecast. They also weigh in on whether the Fed screwed up and made things worse.  

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Timestamps:  

00:00–00:36 Intro 

00:36 Mortgage rates at 7% 

01:54 “You are in the business of information”  

04:16 Refi rule of thumb 

13:17 What to tell buyers thinking about taking a break from home shopping 

16:12 Multiple offers are back 

17:34 Activity always breeds activity 

21:54 Baby Boomers and condo owners 

31:49 Pain points are what cause people to move 

33:08 Has the Fed screwed up? 

37:32 More people expecting a rate hike of 50 bps 

39:19 Scripts for lockbox communities 

47:10 How are you changing your approach in 2023 to win more listings?

Show Resources:  

https://www.housingwire.com/articles/the-7-mortgage-is-back-with-a-vengeance/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=1&cx_experienceId=EXZNOASUT0V6#cxrecs_s 

https://www.housingwire.com/articles/real-estate-agents-wonder-if-inventory-levels-will-ever-return-to-normal/ 

https://www.bankrate.com/mortgages/will-mortgage-rates-go-up-in-march-2023/#spread 

https://finance.yahoo.com/news/fed-screwed-real-estate-billionaire-153000335.html   

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Connect with Byron Lazine: https://www.instagram.com/byronlazine   

Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/ 

Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/ 

#interestrates #housingmarket2023 #interestratehike