she lost her bid for re-election last night failing to finish in the top two in a runoff election. it is the first time in more than three decades that chicago has voted a sitting mayor out of office. i m eternally grateful to everyone who gave us their time, support and money and prayers. thank you from the bottom of my heart. god bless you. god bless this incredible city. long time public schools chief paul vallas ran a tough to crime campaign. he will face brandon johnson a cook county commissioner in an april runoff. fbi director christopher wray says the bureau believes the covid-19 pandemic was likely the result of a lab exteacciden wuhan. this comment is just days after the tent of energy low confidence assessment that covid most likely originated from a lab leak in china. the fbi has for quite some time now assessed that the origins of the pandemic are most likely a potential lab incident in wuhan. we step back for a second, the fbi has agents, professionals,
We re at a tipping point here. yeah, this is the smell of inevitability. sellers have had to adjust prices and i think that they are starting to understand that aspirational pricing is over and there is a leveling off. and this is good news because i think that it will inspire more buyers to get into the market and start negotiating with sellers. let s talk mortgage rates up three weeks in a row. how much is that keeping the whole market stuck? a lot of people are in a 3.5% mortgage and they are not looking to move. and i think that is putting us in a holding pattern. i think people underestimate the multifaceted impact rates have on absolutely everything. because everything is just more expensive. so i think buyers are trying to say, will i ever get back to 2% or 3% and the answer i think is no. i think this is the new normal for a while. the fed will keep ticking up rates and sellers don t want to
Think we have to pay attention to that. that s a really that s really great advice. so you mentioned inflation. let s talk mortgage rates. with the fed raising interest rates to fight inflation this year, rates have hit nearly 5%. that is the highest it s been in a decade. so how does that affect buyers? yeah, that s a very good question. i mean, interest rates have definitely made it tougher in terms of an affordability standpoint for some. but i also think it s a good thing. i think it s good for the people that have been trying to get into the market that are more qualified to get into the market. and by reducing the amount of people going after the same home that are on the fence in terms of their finances and affordability i also think that contributes to creating a more healthy economy. it creates balance and stability and also creates a safer environment within the lending space to prevent things like mass foreclosures and the negative impacts that we re seeing or that w
They ve lost about $240 million in sales because of this eight-day enhanced check. the governor says he was doing this in response to president biden noting he was going to repeal title 42. the governor said that he was doing this to check for human smuggling and drugs but what this did at the end of the day was cause massive trade disruptions and will take several weeks now for the supply chains to catch up, jessica. and to kind of unwind alm of that. let s talk mortgage rates. they hit 5% for the first time in over a decade. how is that going to impact those looking to become homeowners? it s a really hot real estate market right now. it s going to make it a lot more expensive. over the last year or so we were seeing mortgage rates below 2%. that was incredibly attractive for home buyers to go out and buy a home. after the federal reserve