1. How should we be talking to our clients about the Silicon Valley Bank Collapse?

– The government bailed out the SVB so depositors would not lose their money. This should be an isolated situation, and we shouldn’t see a domino effect. 

– We don’t think the banking system will fall apart – the government has said it will not let that happen. It’s a completely different market out there than in 2008.

2. How does this volatility to our markets, effects our industry? 

– Yesterday, the markets opened really strong with lower rates, then it regulated itself by  the end of the day a bit. 

Overall, inflation is lower, but not as low as the Fed is trying to get to. Timing the market with mortgages rates projected to dip in 2024 could be tricky. There’s no guarantee that homes prices will become more affordable or that mortgage rates will drop.

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