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HousingWire Daily
Logan Mohtashami: After the election, does the Fed finally care about housing?
Nov 11, 2024
Logan Mohtashami, Lead Analyst known for his deep insights into the mortgage market, joins to discuss the Fed's recent remarks and their potential impact on mortgage rates. He highlights how the election might influence housing demand, stressing the need for lower rates to stimulate the market. The conversation dives into bond yield fluctuations and the relationship between economic indicators and housing trends. Logan also outlines how adapting economic models and keeping an eye on data can guide future forecasts in this ever-changing landscape.
30:09
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Quick takeaways
- Jerome Powell's acknowledgment of the weak housing market signifies the Fed's intent to implement future rate cuts and support housing demand.
- Stabilization of mortgage rates near 6% suggests improving pricing conditions, which could invigorate demand and strengthen the overall housing market.
Deep dives
Mortgage Rate Insights
Mortgage rates are influenced by the 10-year yield, which has shown some stabilization despite recent fluctuations. The latest data indicates that mortgage rates are likely to head toward 6%, which could improve demand in the housing market. A comparison to last year's mortgage spreads reveals that rates are significantly lower this year, hinting at better pricing conditions for consumers. The potential for lower rates, alongside increased demand, suggests the market may be finding a firmer bottom, a critical factor for future housing activity.
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