Investors, Mortgages, and Mahomes: A Wild Week Recap

**Investors, Mortgages, and Mahomes: A Wild Week Recap**

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**Investors: Fed Says, "Relax, We Got This."**  
Fed Chair Jerome Powell reminded us all this week: *"Patience is a virtue."* Translation? No aggressive rate cuts are coming anytime soon. Why? Because the economy is still showing strength:  
- 4.1 percent unemployment  
- Strong consumer spending  
- Solid business investments  

**Inflation remains a concern:**  
- October PPI increased by 0.2 percent month-over-month and 2.4 percent year-over-year (Core PPI rose to 3.1 percent).  
- The takeaway: Inflation is persistent and not cooling down easily.  

Mortgage prepayments are also increasing:  
- Fannie Mae’s 30-year prepayments surged 30 percent in October, with Rocket/Quicken leading the charge. Other servicers, including Citi, Planet, and UWM, continue to lag.  

**Mortgage rates saw a slight dip:**  
- 30-Year: 6.78 percent  
- 15-Year: 5.99 percent  
While slightly lower, they are still much higher than a year ago, making affordability a challenge.  

As Jay-Z said, *"The genius thing we did was, we didn’t give up."* Powell’s message is clear—success is about strategy and patience.

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**NFL: Bills Hand Chiefs First Loss of the Season**  
The Kansas City Chiefs’ unbeaten streak is over. The Buffalo Bills came into Arrowhead and delivered a decisive 30-21 win, snapping Kansas City’s 15-game winning streak.  

Patrick Mahomes addressed the loss directly: *"The undefeated thing was cool. But that's not our ultimate goal."* Meanwhile, Josh Allen delivered a highlight performance, sealing the game with a 26-yard touchdown run. Chiefs corner Trent McDuffie summarized Allen’s impact: *"No matter what happens, he can make his team right."*  

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**The Takeaway:**  
Whether it is Powell’s measured approach or Mahomes adjusting his game plan, the key to success is strategy, patience, and focusing on the long-term goal.  

As Tupac said, *"You gotta keep your head up."* Whether you are navigating the housing market, building your portfolio, or chasing your goals, the game is far from over.  

Let’s talk about your next move and how to stay ahead. Reach out today.  

#MortgageInsights #BillsMafia #ChiefsKingdom #EconomyVibes #WinningStrategy #PatienceWins