Recently, I heard rates would be dropping around March or May 2024. It wasn't stated how much they were dropping. If these alleged reductions do happen, new orders probably won't hit the pipeline 'til about the last quarter of 2024.
jmo
It would be WONDERFUL if people who've been holding off to purchase/sell/refinance jump on the first reduction -- if it's a good one. However, they may wait to see how low those reductions will go.
With that in mind, I wouldn't bank on this business picking up anywhere near the boom we saw during the pandemic or even business as we knew it 5 years ago.
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