Existing-Home Sales Likely Slowed in August -- WSJ
swhy: In the context of the Federal Reserve's interest rate cut, interest rate-sensitive real estate and manufacturing sectors may benefit.
The Federal Reserve's September meeting statement believes that progress has been made in achieving the target inflation, while job growth has slowed down and inflation and employment risks are roughly balanced. The meeting lowered the policy interest rate by 50 basis points and continued with the planned balance sheet reduction.
Shares of Housing-related Stocks Are Trading Higher After the Fed Cut Rates by 50 Bps, Which Could Affect Housing Demand.
Before the resolution, good news came from the usa housing market! Last week, mortgage rates hit a two-year low, and new home construction in August reached a four-month high.
The mortgage loan interest rate continues to decline, further boosting confidence in the US real estate market. Last week, the refinancing mortgage application index hit a new high of over two years, and construction permits in August rose to the highest level in six months.
U.S. Existing Home Sales Seen Hitting Almost 30-year Low in 2024, Fannie Mae Says
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