"The Worst Housing Market In 30 Years"
Published: 2024-01-24
Status:
Available
|
Analyzed
Published: 2024-01-24
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
In 2023, there were just over 4 million homes sold in the United States.
"in 2023 in the United States there were just over 4 million homes that were sold"
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Anticipation of mortgage rates falling in 2024.
"are we finally going to see relief in the mortgage Market are we finally going to see mortgage rates fall"
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Anticipation of increased housing inventory in 2024.
"are we finally going to see more homes available for sale"
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Anticipation of increased housing affordability in 2024.
"and are we finally going to see more affordability in the housing market"
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Mortgage rates have transitioned from historically low to multi-decade highs in the past two years.
"in the last 2 years we've seen mortgage rates go from some of the lowest rates ever to now some of the highest rates we've seen in a couple of decades"
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The Federal Reserve Bank has indicated an intention to cut interest rates multiple times in 2024, though the exact number and timing are not yet defined.
"the Federal Reserve Bank has said that they are interested in cutting interest rates although they haven't defin exactly how many times they're going to cut interest rates and what they're going to do with interest rates yet they kind of hint that they want to cut interest rates a few times in 2024"
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A decrease in inflation could lead to interest rate cuts in 2024, potentially causing downward pressure on mortgage rates.
"if inflation kind of goes down like this then yeah we could see some interest rate Cuts in 2024 which could push some downward pressure on mortgage rates"
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A hypothetical halving of mortgage rates would likely result in a significant increase in home buyers.
"if mortgage rates were cut in half tomorrow hypothetically what would happen you'd see a big influx of buyers into the housing market"
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An increase in buyer activity can lead to further home price appreciation.
"and if you have a lot of buyers bidding for homes now home prices start to go up even more"
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The Federal Reserve Bank will monitor inflation, the economy, and jobs. If inflation continues to decline while the economy remains strong, it may lead to interest rate cuts.
"so what the Federal Reserve Bank is going to be keeping their eye on which I'll be talking about here especially in the coming weeks is inflation the economy and jobs and if they continues to see this downward Trend with inflation while the economy kind of stays strong then that will give them more fuel to want to cut rates"
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If inflation approaches the Federal Reserve Bank's 2% target, it could provide justification for interest rate cuts.
"if inflation gets closer to that 2% Target which is what the Federal Reserve Bank wants then that could give the Federal Reserve Bank ammunition to start cutting interest rates"
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The decline in mortgage rates from nearly 8% at the end of 2023 to the 6.5%-7% range is attributed to treasury yields.
"we've seen mortgage rates fall from almost 8% in the end of 2023 to the 6 and 1 half to 7% area where we are today has to do with treasury Ys"
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Investor sentiment, confidence in the dollar and the economy, and concerns about inflation influence treasury yields, leading investors to demand higher compensation.
"investor sentiment investors thoughts investor confidence about the dollar and our economy and when investors are worried about inflation they're going to demand the government to pay them more money"
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An increase in government-paid treasury yields is likely to cause mortgage rates to rise.
"if the government is paying out higher yields you can expect your mortgage rates to jump higher as well"
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Mortgage rates are predicted to have a significant influence on the housing market in 2024.
"mortgage rates are going to play a big part in the housing market in 2024"
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Concerns exist about whether Americans will exhaust their financial resources or credit card spending capacity in 2024.
"are Americans going to run out of money in 2024 are Americans going to run out of the ability to keep spending money on their credit cards"
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A potential economic slowdown and increased consumer worry could affect treasury yields, consequently impacting mortgage rates.
"if that happen happens and the economy starts to slow and people get more worried about the economy well that could impact treasury yields which could impact mortgage rates"
Pending