Mortgage rates just jumped again. This time, we’re back in the seven to eight percent range as homebuyers struggle to pick up properties without a massive mortgage payment. So, why won’t the Fed finally lower rates when the housing market is struggling so much? And is there a way for you to combat the high mortgage rates by picking up a steal in terms of price? Christian and David, the mortgage experts, are on today to share their takes.
Legend has it that if you wax David’s head enough, you may be able to see the future of the housing market. We’ve never tested it out, but David’s reaching into that big brain of his to give us his best mortgage rate forecast for 2024. First, we’re talking about why rates actually went UP when the Fed announced fewer rate cuts coming this year. If the Fed didn’t raise rates, why are banks raising them?
We’ll also get into the economic factors influencing the Fed’s decision and how hot inflation may keep us in higher-rate territory for longer. But you’re not out of luck. Christian and David share how you can pick up a property for cheaper by using the seasonal swings of the housing market, even with high rates. Want to know what’s coming for rates? Stick around!
00:00 How Mortgage Rates Change 02:51 Why Rates Went Up 04:16 Why Isn't the Fed Cutting Rates? 05:57 Buy Before Rates Drop? 07:33 Where Rates Could Go 08:53 Work with Christian and David!
