Mortgage rate cuts are coming in 2024, at least according to the Federal Reserve. And lower mortgage rates mean more buyers, more buyers means more competition, and more competition means more home equity for you. This is the time that real estate investors have been waiting for as they’ve sat on slowly appreciating properties for the past two years. But now, with so much pent-up demand, how hot could the housing market get?
James Dainard, expert house flipper in the Seattle, Washington market, has done thousands of deals. But in 2023, flipping was more challenging than ever. High rates meant most homes became automatically unaffordable, and the buyer pool shrank substantially within a matter of months. But now, there’s hope on the horizon for all, whether you’re a seller, buyer, investor, flipper, or regular homeowner.
So, what could happen in 2024 as mortgage rates are projected to drop? Stick around to find out!
00:00 The Effect of High Rates 03:08 Preparing for Price Drops 04:16 Mortgage Rate Cuts Are Coming 06:37 Home Equity Could JUMP 08:44 Affordability Will Rise 10:31 DON'T Bet on THIS
