News you can use with Boomer Foster (3/6/2023)

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 afternoon, in this week's video:

 Economic News [00:10] 

• The Dow finished up almost 1.5% on the back of some negative economic indicators. 
• On Tuesday & Wednesday, the Fed Chief will testify before Congress. We hope to get some clue as to the Fed’s intentions to raise rates from that testimony. 
• On Friday, February employment numbers will be released. 
• 30-year fixed rates went up for the fourth week in a row, from 6.45% to 6.65%. 

 Industry News [01:54] 

• Closed sales were down 40.7 % year over year. Remember, last year at this time, the market was still pretty hot. 
• New Pending's were down 24.6% year over year, but up 6.5% week over week. 
• Showings were down 28.4% year over year, but up 5.7% week over week.