Will California Housing Market Rebound in 2024?
Posted by Paul Burrowes on
_(1).png)
The Federal Reserve Has Spoken
Interest rates are holding steady for now. But hints of future rate cuts suggest brighter days ahead for homebuyers.Last Wednesday, the Federal Reserve announced its plan to maintain the federal funds rate at current levels. However, it predicts up to three rate cuts in 2024 if inflation keeps creeping toward the 2% target. This forecast signals potential rate relief on the horizon.
What does this mean for prospective homebuyers? Simply put, lower rates. The Fed doesn’t directly set mortgage rates, but its management of the federal funds rate influences lenders’ decisions. So, if the predicted 0.75% in cuts comes to fruition, spread across three meetings next year, mortgage rates could take a sizable dip.
…
597 Views, 0 Comments