Rate improvement today isn’t necessarily tied to Powell’s testimony before Congress, but rather to the growing shift among Fed officials. Doves like Fed Governor Bowman and Chicago Fed President Goolsbee are now aligning with Governor Waller in signaling potential rate cuts as early as July.

What’s truly powerful is how much impact a single point drop in the Fed rate can have. It ripples through the economy and directly benefit middle and lower-middle class consumers.

Doves lean towards easing rates, Hawks have their talons poised for a long battle.

Home Values

Year-over-year, home prices rose 2.7%. However, some of the areas in the South and Southeast that saw the sharpest gains are now starting to come back down to earth.

Have a great rest of your week and stay cool. We are headed to Vegas Friday, Temps 104 this weekend.

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