I'm speaking again with Owen Lee, so of success mortgage partners.

So it looks like you were just talking on Breakfast Club a little earlier that give us an update

of where like kind of where rates are going

and and how to have that conversation with the consumer when they hear rates are dropping.

Let's go into that a little bit first.

So where do you see rates going here for the next little bit, Owen?

So I really think rates are going to trade within kind of a tight range.

I mean, we've seen, you know, what a lot of people called the Red Wave trade or the Trump

trade, which actually started about three to four weeks before the general election.

You know, we got that swoon in

interest rates. I think the low water mark was September 30th. And then very quickly, they started to go

back up. We lost about 200 basis points in the market. Since then, we've gained about 100 back,

just under halfway back. And so I really think we're in a tight range right now. You know, we've gained about 100 back, just under halfway back.

And so I really think we're in a tight range right now.

You know, you see almost a ton of prints of inflation data, both the PCE, that consumer expenditure index and the consumer price index coming in flat, right about where the Fed has had it for

the past three or four months, two and a half, two and three quarters percent. And we're just

trading in a really tight range right now, all things considered.

So I think we are where we are absent the big next shift in the data.

And I think that's more driven around jobs than it is around inflation, although, you know,

the Fed's got that dual mandate.

They have to look at both.

But I think it's really a relatively tight range right now of, you know, wherever we are,

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