Will we finally get the rate cuts the Fed hinted at earlier this year? Has the job and housing market taken a big enough hit for us to still be concerned about inflation? And how are more Americans going mortgage-free during such economic uncertainty? The housing market is changing fast, but we’re here to break down all the latest data from recent headlines as we touch on inflation, rate cuts, housing market competition, foreclosure activity, and more!

We know what you want to hear about—rate cuts. We’ll touch on the latest Fed update in our first headline, as the chance of a 2024 rate cut increases with last week’s promising inflation data release. This is good news for homebuyers but may make getting a job (or keeping one) challenging. What do we mean? We’ll explain it all at the start of the show. Next, housing competition begins to drop as inventory increases and homes sit on the market longer. Will this lead to a decrease in home prices over the next year? One top listing site believes so.

With all this worry about mortgage rates, many Americans are going in the opposite direction as mortgage-free homeownership steadily increases. This could have long-lasting effects on housing inventory, but when will it hit? Finally, we touch on the increase in foreclosure activity and whether or not it’s a sign of a shaky housing market to come!

In This Episode We Cover

The Fed’s new rate cut prediction and how big the cut could be in 2024

Inflation rate updates and why financial markets celebrated last week

How a spike in new listings could lead to lower competition and on-market houses sitting longer

The steady increase in mortgage-free homeownership and what happens when these houses get inherited

Why foreclosure activity is starting to rise, but it may not mean what you think

And So Much More!

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Headlines from Today’s Show:

Rate Cuts

Housing Competition

Mortgage-Free Homeowners

Foreclosures

Book Mentioned in the Show:

Real Estate Deal Maker by Henry Washington

Jump to topic:

(00:00) Intro

(02:11) Fed Gives New Rate Prediction 

(08:41) Housing Competition Cools Off 

(22:07) Homeowners Go Mortgage-Free 

(31:06) Foreclosure Activity Increases 

Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/on-the-market-227

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