Mortgage rate cuts were supposed to be a sure thing in 2024. Back in December of 2023, the Fed publicly announced that they would cut the federal funds rate three times this year, but that plan isn’t looking all that practical anymore. With pent-up demand in the housing market, a red-hot labor market, inflation still above the Fed’s target, and plenty of consumer spending, mortgage rate cuts could work AGAINST the Fed’s plan. So, what do you do if mortgage rates stay where they are?
Kathy Fettke, multi-decade investor and co-host of the “On the Market” podcast, is giving her take on whether or not the Fed will cut rates, what happens if they don’t, and how to score better real estate deals REGARDLESS of what the Fed does. In fact, Kathy has been able to invest in significantly better properties thanks to higher mortgage rates pushing out the competition. YOU can take advantage of the exact same tactic, no matter how high rates get.
So, will mortgage rates fall in 2024, or are Americans sitting on the sidelines waiting for cuts that will never come? Whatever happens, make sure you’ve got an investor-friendly lender by your side: http://biggerpockets.com/FindALender
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Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
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Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
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Find Investor-Friendly Lenders:
http://biggerpockets.com/FindALender
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Hear Kathy on The “On The Market” Podcast Wherever You Listen to Podcasts:
https://link.chtbl.com/OTM
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Investors: Stop Worrying About Interest Rates—Here’s Why Right Now Is the Time to Buy:
https://www.biggerpockets.com/blog/investors-stop-worrying-about-rates-in-2024
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The Fed Is Trying Its Best To Lower Expectations in 2024 as Pundits Call for Rate Cuts:
https://www.biggerpockets.com/blog/powell-tries-lowering-expectations-heading-into-2024?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Fed’s Plan “Backfired,” Now They’re Scrambling:
https://www.biggerpockets.com/blog/on-the-market-189?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Kathy:
BiggerPockets: https://www.biggerpockets.com/users/kfettke?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @kathyfettke or https://www.instagram.com/kathyfettke/
Website: https://realwealth.com/
00:00 Wait for Lower Rates?
00:31 Fed Funds Rate Explained
02:21 Mortgage Rates Explained
05:06 What to Do When Rates Jump
07:56 Will Mortgage Rates Fall?
11:15 You Can Still Make Money
12:37 Waiting Will Cost You…
