This is how the spring market is affected by the recent bank closings.

Have you heard of the recent bank closings? It’s been all over the news, and today I’m sharing my take on this topic.

We faced some challenges with big banks, including Silicon Valley Bank and Signature Bank. However, the federal government intervened and rescued them all. Depositors with over $250,000 are guarented to get their money back. The bank runs have stopped and the future looks bright for these banks. 

Interest rates have also decreased by almost half a percent since the initial challenge with Silicon Bank. The last time we had bank challenges was in 2008, due to the banks' bad real estate loans. Since then, the market has stabilized, and the prices have gone up, so the banks no longer have those issues. It's an excellent time to go out and buy, as long as you feel comfortable. If there are any issues with the banks, the federal government will step in and take care of them.

This is fantastic news, and since interest rates have gone down, more buyers are coming out. It's prime springtime shopping, so don't hesitate to call or email us if you have any questions, concerns, or comments. We’re always here for you and ready to help.