“Signs of Recovery for the Housing Market
It’s a moment many have been waiting and hoping for; the Federal Reserve announced in December of 2023 that rate hikes were not in the cards for the new year.
The big news in this announcement? The idea that the Fed might actually CUT interest rates in the new year after steady increases in federal lending rates charged to banks since 2022.”
HousingWire.com reports that the Fed did not promise no rate hikes next year, but raising rates in 2024 ”seems unlikely.”
What do government officials expect in the new year? HousingWire states, “Economic projections from central bank officials showed rates would be slashed to a median of 4.6% by the end of 2024, suggesting three 25 basis points (bps) cuts from current levels.”
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