The US housing market is long overdue to catch a break as experts believe peaking mortgage rates have come just in time alongside Fed forecasts planning for interest rate cuts in 2024. Redfin Chief Economist Daryl Fairweather tells Yahoo Finance this could be a set up for a slow recovery for homebuyers. "It's going to be more of a slow trickle of people deciding that 'you know, I can't wait any longer and I want to move,'" Fairweather comments, "but a strong economy does mean that more people are moving for job opportunities — they feel more confident, they feel like even though rates are high, they can make it work for their budget." Fairweather also comments on the rise in "nepo-homebuyers" as more Americans receive assistance from family in order to purchase a home. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #mortgages #realestate About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
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