 Hey, what's up? I hope you're doing super well. I'm making this video on the fly today because we just got some incredible information about mortgage rates. Yes, mortgage rates went down quite a bit this morning. I'm going to share that with you in a second, but this goes along exactly with what I've been talking about here recently with saying mortgage rates are peaking out, prices are leveling out. And listen, I'm just telling you what the market's doing right this second. I'm not saying that mortgage rates can't go back up and prices can't come down. I don't know what's going to happen in the future, but I can tell you what it looks like from this point of view right now in the present, and that is that prices have leveled. We're not going to see prices go down much now. Now, this is localized as well. Some markets are going to be coming down some more, and some are going to go up faster. It's all localized, but we're talking about it on a general basis. Prices are leveling, and we're not going to see much more decreases unless mortgage rates do in fact go back up quite a bit. So a lot of the bears when this started happening, we're saying it's going to be 10 to 12 percent, then they retracted to eight to 10 percent, and now you don't even hear from any of the bears whatsoever. But one reason why the market isn't going to crash whatsoever, this is just a mild correction. And one of the reasons why it's not crashing is because of one word, anticipation. So many people are anticipating this crash. And the reason being is because we learned so much from 2008, and basically it's out of fear. People are scared that we're going to go into a 2008 because that was so bad, and they want to be the genius that called it out. They want to be the genius that predicted that things were going to crash harder than 2008. So everybody is a Michael Burr now. Everybody is a Kyle Bass from the movie The Big Short. Everybody wants to be that genius that called it, so they can go back and say, look, I did a video back in the day, but that's the thing here. Everybody's anticipating this. The reason 2008 was so bad is because nobody saw it coming. Nobody saw it coming. Everybody thought it was just going to keep going up, and 99 percent of people got caught. And me included. I got caught flipping houses. I had a lot of partners. I've seen people that were 50, 60 years old went through the same thing. I went through in terms of losing everything, going bankrupt, and those were some hard times, and we all got caught. We got caught, and we learned our lessons. And now everybody is over-preparing. They're preparing for the worst. They're hoping for the best. So it's a really good rule of thumb. This is what we should have been doing back in 2008. It's preparing for the worst, but we weren't. We were preparing for the best and hoping for the best. And that's never a good scenario. But we're in an incredibly strong market. Mortgage raise today, guys. Ladies and gentlemen, here we go. 6.29. That's what mortgage news daily has as our 30-year fixed. Everything else is under 6. The jumbo, the VA, the FHA, the arms, they're all under 6. And I guarantee you that you're locking in 30-year mortgages right now under 6 because all the banks have to kind of compete with this national average. So I guarantee you there's a lot of mortgages getting locked in today under 6. There's a lot of happy buyers right this second. So it's down about 35 basis points right this second, just from yesterday. Just from yesterday. It's down 35 basis points. So this is an incredible news. Going back to the market, days in the market right now looked at that. We're at 35 days on the market according to Redfin data average in the country. Back in 2019, we were at 50 days on the market. Now this is listings that have sold. This isn't counting for the listings that haven't sold. So that's something to think about. There's definitely less transactions and there's some negative stuff in there, but there's so much positive data happening right now. And to be expected with the negative stuff with the shift and how crazy everything was getting. And remember earlier this year when rates were 5.5 when they hovered around there for a couple months, that was the most incredible market that we've ever seen. So what I want you to imagine, because prices were higher back then, what I want you to imagine is prices lower than it was them and rates at 5.5. How incredible of a balanced market that's going to be, how happy the buyers are going to be, how happy the sellers are going to be. We've increased the gains from March 2020 is in the 40% range for properties since the pandemic started. 40%. We've only erased like 5% of those gains and it's not going to get much worse at all. The sellers are in incredible shape. What the illusion is is that they feel like they're not in great shape because they're not getting what they could have got six months ago or even later last year or they can't put their property in the market and sell it in a day for $50,000 over asking price. Okay, but you're still getting 20, 30% more than you were in 2019. How is this a bad thing? So I think the sellers just need to come down from March, come back to earth. We still have plenty of demand, plenty of demand, plenty of pent up demand as well as with these interest rates continue to come down over the course of next year. You're going to see transactions pick up quite a bit because people are just sitting on the sidelines that got knocked out of the market. Man, this is incredible news. This is super positive. I didn't figure if this would happen this quick, but it's exciting. So anyway, I'm going to keep spreading all this positivity, your way. I'm going to keep you informed, keep you on top of it. Let me know if there's anything in the world that I can do for you. We'll see you guys in the next video.