Why the rate cut had the opposite effect
#56
New name, same edu-tainment.
Three things in life are certain: Taxes, the need for real estate agents, and change. Starting this week, you’ll notice a few new features in your favorite Friday roundup—a list of can’t-miss industry events, a quick shot of inspo to carry into the weekend, and a new name to cap it all off, Real Estate Roundup.
Check out the new spots below 👇 then hit reply and let us know what you think. Seriously, we read every message.
🔊Today’s Top Podcast Rec:
One of the hardest parts of building a personal brand in real estate is figuring out who you truly are—and who to present to your audience. Are you an educator or known for entertainment? Are you a high-end brand or the agent next door? Are you easy to connect with or intentionally exclusive? In this eye-opening episode of Glennda’s Guru, agent, thought leader, and creative agency owner Holly Meyer Lucas helps listeners get down to the heart of their personal brand—without getting paralyzed by the process.
TRACK THE TRENDS
MARKETS
Mortgage Rates Overreact
In a surprisingly defiant move, mortgage interest rates ticked up over the past week, erasing the short-lived dip that boosted sales and refinances late last month. In fact, since the September rate cut, mortgage rates have on average climbed, instead of falling, leaving potential homebuyers in a will-they-won’t-they position.
Here’s what happened:
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The average 30-year fixed mortgage rate increased by 47 basis points, from 6.15% to 6.62%, after the Fed’s mid-September rate cut.
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That increase is at least partially fueled by rising 10-year Treasury yields, which are closely tied to mortgage rates and signal that investors are feeling confident in the economy.
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An expectations-smashing jobs report dropped last Friday, reinforcing the idea that the economy is trending upwards—putting further pressure on rates.
Looking forward, upcoming economic reports, like the consumer price index and October jobs data, will be some of the biggest determinants of which way rates go this winter.
REC ROUNDUP
The Friday Five
📖 Driven to sell. What truly motivates sellers to take the plunge and list.
👀 The spooky side of real estate. This true listing story is to die for.
👀 Tour the time capsule. See inside the 1912 mansion with his and hers bedrooms, a sunny solarium, original tilework, and more.
💡Take two. According to the Fed, if the economy behaves, two more rate cuts may be coming.
💡Lead Nurturing 101.Three tips for keeping your leads close and your business busy.
WHAT’S NEW FROM ESTATE MEDIA
Cold Call Battles with Ricky Carruth.
Think you have what it takes to compete with expert agent and cold-calling champion Ricky Carruth? Andy Moncada, an up-and-coming agent from Long Island, does!
Back by popular demand, Cold Calling Battles pits Ricky against a series of rising-star agents from across the country to see who has what it takes to turn phone calls into hot leads. Watch the kickoff episode to see their approach to smiling and dialing, how they handle questions and rejection, and who takes home gold in this head-to-head battle.
HANGS & HAPPENINGS
eXpcon 2024 | Miami, FL | October 27-30. Level up your business alongside the top players in the industry. With breakout sessions led by all-star agents on topics like luxury sales, lead generation, and leveraging AI, plus a giant EXPO hall packed with vendors, there’s no better place to supercharge your real estate game.
NAR NXT | Boston, MA | November 8-10. Join 15,000+ real estate pros at NAR’s premier annual event, featuring top-tier networking opportunities, educational sessions, and hands-on experiences with the latest real estate tech tools.
Inman Connect | NYC | January 22-24, 2025. Grow your network, learn from the best in business, and get inspired through multiple networking opportunities and breakout sessions from industry pros like Rayni Williams, Mauricio Umansky, and Jimmy Burgess.
FEATURED LUXURY LISTING
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TIPS & TAKEAWAYS
Take This Tidbit To Go
Rising mortgage rates—especially after a promising rate cut—can feel like a late-season setback. In reality, it’s an opportunity to sharpen your focus and guide your clients towards smarter, more thoughtful choices.
At the end of the day, you’re the expert they trust. Your adaptability is what will drive their confidence forward. Remember: Your resilience is your greatest asset.
Before we go…
ESTATE RECOMMENDED RESOURCES
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