The Fed kept rates on hold for the 3rd-straight meeting. No surprise there. But its “dot plot” of Fed member forecasts for where policy rates will be in a year showed that 15 out of 19 members expect cuts of between 50 and 100 bps over the course of 2024.
Pending Home Sales (signed contracts on existing homes) surged 8.3% from November to December, due in large part to falling mortgage rates per the NAR. Their Chief Economist, Lawrence Yun,
Sales of existing homes slid 1% from November to December, though sales are expected to move higher this year. NAR’s Chief Economist, Lawrence Yun, explained that “mortgage rates are meaningfully
Represented as Legacy Mortgage and Investment Corporation in the State Of California.
