News you can use: February 27th, 2023

Here is this week’s edition of "News You can Use" with Boomer Foster. He is president of our company gives a very brief observation of the Financial and Real Estate Markets. Enjoy.

Summary of topics below.

Good Monday Afternoon Everyone!

I hope you take a moment to watch this week's News You Can Use. Below is a summary of topics:

Economic News [0:09]

• Bumpy ride on Wall Street, with all three indices down and the Dow finished down 860 points, which is about 2.5%.
• Reflective of the rise of inflation beyond the Fed’s ability to control it.
• We can expect a further bump in the Federal Funds rate when the Fed meets in March.
• 30-year fixed rates rose for the third week in a row, from 6.32% to 6.5%.

Industry News [2:10] 

• Closed sales are down 37% year over year, but week over week they were up 26.7%.
• All other major indicators are down compared to this time last year. 

I would love to hear from you and what you think about Boomer's brief video. Please leave them in the comments below or email me at BReynolds@LNF.com.