Housing market: What do high-for-longer interest rates mean?
Hopes for the first wave of interest rate cuts to come in early 2024 are fading as Federal Reserve officials signal higher for longer rates. Stifel Director Andrew Carter joins Yahoo Finance Live to discuss the greater implications for the housing market.
Carter notes higher rates could constrain “housing turnover,” and that construction may “continue to throttle existing home sales” as rates rise.
However, he sees new home sales “continuing to do well” by slowly cutting excess inventory as affordability issues persist.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor’s note: This article was written by Angel Smith