Have higher mortgage rates already reversed housing demand?
Housing Wire
OCTOBER 5, 2024
The Federal Reserve cut rates by 0.50% on Sept. 18 and mortgage rates and bond yields headed higher. But, we have to remember that mortgage rates had already made an almost 2% move lower since the highs of 2023 without rate cuts, as the bond market always gets ahead of the Fed. Since the Fed rate cut, we’ve also seen significant economic data lines beat estimates: housing starts, retail sales, industrial production, GDP and labor data all came in better than expected.
Let's personalize your content