12/25 - 12/29: What happened in the market this week?

I hope you've recovered from the holiday craziness of this past Christmas weekend!

The week between Christmas and New Years is a weird one. On one hand, it's an opportunity to take a deep breath and relax for a minute after the rush of Christmas is behind us (not to mention Thanksgiving always coming right before Christmas). But on the other hand, it's an opportunity to do what a lot of other people aren't doing - putting in the work to end the year on a strong note. One of these 2 options is way easier to do than the other, but remember this: it's the people who do the things that no one else wants to do that end up reaching heights that no one else can reach.

Maybe you took this week off - maybe you doubled down and worked extra hard to end the year with momentum. Regardless of what you did, I hope you spent this week in a positive mindset!

Market Recap

It's no surprise that this week has been extremely light when it comes to market movement or overall news. From a rate standpoint, no change at all. The 30 year fixed mortgage rate is still sitting around 6.60%.

This means we will end the year in nearly the exact same spot where we began 2023 in terms of interest rates. To me, this is a pretty crazy chart, considering the volatility we experienced throughout the year.

One take away I have when looking at this chart is that it's extremely important that we don't get too caught up in the short-term, day-to-day fluctuations in the market (and our own lives) and we focus more on the long-term, big picture. And having said that, this chart makes me smile :)

Bring on 2024!

Ok, enough market talk. I want to talk 2024.

A new year is not just a change in the calendar but a significant cultural, psychological, and social event that resonates differently with people all around the world. It’s a time of celebration, renewal, reflection, and resolutions. It's a big deal.

I am excited for the opportunities that lie before all of us in 2024. For more than a year, we have all been swimming in uncharted waters. No sextant, sundial, or supercomputer has the data points to accurately predict where we go after having shut down the world's largest economies, disrupting global supply chains, dropping rates to ZERO only to reopen the economies, and raise rates faster then ever before. And all of this against the backdrop of a couple of wars and Taylor Swift dating a member of the Kansas City Chiefs. No one really knows where we are going, but one thing is certain... wherever we go, there is always a wake of opportunity.

We are in new markets with new people. Everywhere we look, we see new products & pricing, systems, processes, and people continue to get better and better, and I guarantee you that there are way more people who are familiar and paying attention to what's been happening in our market than ever before. Again, this creates massive opportunity for all of us in 2024.

Each of you and all of us, regardless of what market you are in or what your day-to-day process is, we are all differentiators. You are the reason that people have an opportunity to own their first home. You are the reason that people are able to get out of credit card debt or go on that dream vacation or payoff their student loans. Take pride in that. You are a professional and this is your league. 2024 presents a fresh opportunity for you to step up your game and become an MVP.

So use this weekend to rest up because we start this all over again next week. My commitment to you - and to all brokers out there - I will pull even harder for you, and have an even greater sense of urgency every single day to make sure you are getting the broker experience that you deserve.

Happy New Year to you and your family! I hope that everyone in your world is healthy and happy, and I wish you a new year full of growth & prosperity. My hope is that you feel rejuvenated come next week. I am sending all of my positive vibes your way, and I can't wait to see what we collectively do in 2024.

Cheers!