Weekly Market Update: 03/15/24
Week Ending 03/15/2024
Weekly Market Update: High Inflation Helping you navigate the market |
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High Inflation |
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The Consumer Price Index (CPI) is one of the most widely followed inflation indicators. To reduce short-term volatility and get a better sense of the underlying inflation trend, investors typically look at core CPI, which excludes the food and energy components. In February, Core CPI rose 0.4% from January, above the consensus forecast and 3.8% higher than a year ago.
Although the core CPI annual rate has fallen from a peak of 6.6% in September 2022, it is still far above the readings around 2.0% seen early in 2021, which is the stated target level of the Fed. One big reason is that shelter (housing) costs remained elevated and again were responsible for the largest portion of the increase. However, the CPI data measures shelter costs with a lag, and more timely indicators from other sources suggest that this component will slowly come down later in the year. Other categories with large monthly increases included airline fares, apparel, and auto insurance. Adding to the inflation concerns, another indicator released this week which measures costs for producers also was higher than expected. The core Producer Price Index (PPI) rose 0.3% from January, above the consensus forecast of just 0.2%. Due to the higher than expected inflation reports this week, expectations for a reduction in the federal funds rate have been pushed out until even later in the year. Investors now anticipate that the first rate cut will not take place until June or July. After posting large declines in January, consumer spending picked up in February, but by less than expected. Retail sales rose 0.6% from January, below the consensus forecast for an increase of 0.8% and the results for the prior month were revised lower as well. The strongest rebound in spending was seen in motor vehicles/parts, electronics, appliances, and building materials. Retail sales, which are not adjusted for inflation, were just 1.5% higher than a year ago, below the rate of price increases over that time frame. |
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Week Ahead |
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The next Fed meeting will take place on Wednesday. No change in rates is expected, and investors will focus on the latest forecasts from officials for monetary policy and economic activity. For economic reports, the spotlight will be on the housing sector. Housing Starts will be released on Tuesday and Existing Home Sales on Friday. | ||||||||||||
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Cross Country Mortgage would like to thank our partner, MBSQuoteline for their insightful information.
All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.
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Weekly Market Update: 03/08/24
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Weekly Market Update – 01/26/2024
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Tammy Scotto has Reached the Commission Cap!
Congratulations From Vikki Garby, President Of Better Homes and Gardens Real Estate Green Team, to Tammy Scotto for reaching the commission cap for Company Dollar Contribution in 2023!
“If you know Tammy Scotto at all, you know she is the epitome of a people person. She loves her clients, she loves her job, and she works extremely hard to ensure her clients’ wishes and best interests are at the forefront of every transaction. Tammy is one of the best realtors I have had the privilege of working with and we are extremely fortunate to have her as part of BHGRE Green Team. ” -Vikki Garby
Tammy’s dedication to her clients and hard work has allowed her to reach the cap on her commission with BHGRE Green Team. This is an outstanding accomplishment and means Tammy will now receive a 100% commission split on any deal she closes during 2023.
“I’m thrilled and grateful to all of my clients in 2023 for being the reason I have hit the cap in our real estate market this year. This achievement reflects the trust and satisfaction of my clients. I am excited to continue serving my community and exceeding expectations for my past, present and future buyers and sellers. I would not have been able to accomplish this without all of you. Wishing everyone a Happy Holiday Season. Looking forward to 2024!” – Tammy Scotto
Better Homes and Gardens Real Estate Green Team’s commission structure is undoubtedly one of the finest in the industry, but it doesn’t end there. Our lead generation platform, certified sales assistant program, and dynamic training systems are just a few other things worth mentioning.
Click here to learn more about Better Homes and Gardens Real Estate Green Team and why you should join our team.
Congratulations, Tammy Scotto!
Krissy and Jimmy’s Extraordinary Journey in BHGRE Green Team’s Mentorship Program
Krissy and Jimmy’s Extraordinary Mentorship Journey in the Real Estate World.
In the realm of real estate, a strong foundation is often needed for your career to bloom. Jimmy Cosenza and Krissy Many, an extraordinary duo within the BHGRE Green Team family, exemplify the transformative power of mentorship.
Turning Targets into Triumphs
Before delving into the real estate realm, Jimmy Cosenza held a respected position as the owner of a beloved gun shop in Monroe, NY. However, when the winds of change swept in with the challenges of Covid, Jimmy aimed for a new career path – one brimming with promise but unfamiliar territory. As he ventured into real estate, the stark reality of navigating this intricate landscape solo hit him.
A turning point arrived when Jimmy acknowledged, “If you’re not going to learn, you’re not going to produce.” This pivotal realization spurred him to seek the necessary support, leading him to find an ideal mentor in Krissy Many. Krissy, the Broker Manager of BHGRE Green Team’s Goshen office, brought with her an esteemed reputation, boasting over 100 five-star client reviews and a proven track record of success.
A Straight Shooter’s Path to Success
Under Krissy’s adept guidance, Jimmy’s journey as a realtor gained fervor. Krissy’s Skillful teaching techniques became evident as she accompanied Jimmy to appointments, demonstrating the art of meaningful engagement tailored to each individual client’s needs. Beyond interpersonal finesse, Krissy conveyed indispensable technical skills, demystifying complex processes such as completing listing contracts and purchase offers.
Krissy’s steadfast support accelerated Jimmy’s growth exponentially. The harmonious mentor-mentee synergy was so profound that Krissy began entrusting Jimmy with her own clients. This marked a pivotal juncture in Jimmy’s realization that he had not only stepped into the real estate arena but had also flourished. As the top sales performer at the Goshen office in the second quarter of 2023, Jimmy’s accomplishments spoke volumes – he was a real estate force to be reckoned with.
A Testament to Mentorship
Jimmy’s journey is a poignant testament to the potency of mentorship within Better Homes and Gardens Real Estate Green Team. Krissy Many’s unwavering commitment to guiding, teaching, and nurturing Jimmy’s growth has illuminated a clear path toward his success. Beyond mere accomplishments, it’s the extraordinary connection between mentor and mentee that fuels growth, allowing individuals like Jimmy not just to thrive but to achieve their career goals.
The story of Jimmy Cosenza and Krissy Many epitomizes the essence of the BHGRE Green Team community – a community where mentorship isn’t just a concept but a catalyst for transformation. It’s a place where individuals from diverse backgrounds and aspirations find solid ground, buoyed by a network that’s dedicated to seeing them flourish. As Jimmy continues to hit his targets, his journey serves as a vivid reminder that with the right mentorship, even the most unexpected career pivots can lead to extraordinary success.