'Don't blame the Fed' for high mortgage rates, says Zillow chief economist—the real culprit and his predictions for 2024
Publishing timestamp: 2024-02-02 10:49:02
Summary
The article discusses the factors that influence mortgage rates and the outlook for the housing market. It explains that mortgage rates tend to follow the 10-year Treasury yield and are influenced by factors such as inflation and economic growth. The article suggests that the recent decrease in mortgage rates is due to expectations of a cooling U.S. economy in 2024. It also discusses the relationship between the Federal Reserve's policy rate and mortgage rates, stating that a decrease in the policy rate may not cause mortgage rates to decrease significantly. The article concludes by advising potential homebuyers to consider getting into the housing market now rather than waiting for mortgage rates to potentially fall further.
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Keywords: zillow group inc, prices, economic events, personnel,
Source: https://www.cnbc.com/2024/02/02/zillow-economist-mortgage-rate-predictions-for-2024.html