Real Estate News 10/25/2024

Today’s News Synopsis:

Federal Reserve Bank of San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market.

In The News:

Yahoo Finace – “Fed’s Daly Says She Doesn’t See Reasons to Stop Cutting Rates“ (10-22-2024)

“The San Francisco Fed chief said the decision to cut by a half-point as opposed to a quarter-point was a “close call,” though she came down strongly on the side of a half-point reduction.”

Redfin – “Renters Are Nearly Twice as Likely as Homeowners to Say Housing Affordability Impacts Their Pick for President: Survey“ (10-22-24)

“32% of surveyed renters say housing affordability is a top-three issue when it comes to deciding which presidential candidate they’ll support. That compares with 17% of homeowners.”

ABC News –  “US home sales slowed again in September, falling to weakest annual pace in nearly 14 years” (10-23-2024)

“Sales of previously occupied U.S. homes slowed in September to the weakest annual pace in nearly 14 years even as mortgage rates eased and the supply of properties on the market continued to climb”

NAR-  “Despite Inventory Rise, Home Buyers Remain Cautious“ (10-23-24)

“More listings are coming to the real estate market, but home sales continue to be sluggish. Read more from NAR’s latest housing report.”

Forbes –  “Treasury Yields Rise To 3-Month High As Concerns Mount About National Debt Under Harris, Trump Policies” (10-23-24)

“Government bond yields touched their highest levels since mid-summer Wednesday as the bond market furthered its surprising move after the Federal Reserve’s rate cut last month – and the November election may put further pressure on bonds, as one billionaire investor issued a dire warning about the government’s financial future.”