Real Estate News 09/11/2024

Today’s News Synopsis:

A touch-hotter-than-anticipated August CPI report nudges the Fed toward a 25 bps rate cut at its meeting next week. However, inflation remains cool enough that the Fed could still surprise with a 50 bps cut to get ahead of further weakness in the labor market or simply project the possibility of larger cuts down the road.

In The News:

Redfin – “Smaller Rate Cut Likely After Hotter-Than-Expected CPI Report, But Fed Has Options“ (09-11-2023)

“Mortgage rates, having priced in an aggressive cutting cycle into 2025, are unlikely to move much until we hear from the Fed.”

World Property Journal – “U.S. Commercial Mortgage Debt Hits $4.7 Trillion in Q2 as Delinquencies Increase“ (09-11-24)

“According to the latest Commercial Delinquency Report from the Mortgage Bankers Association (MBA), U.S. commercial mortgage delinquencies rose in the second quarter of 2024.”

CNBC –  “Jumbo 50 basis points Fed rate cut should not raise alarm, analyst says” (09-09-2024)

“The U.S. Federal Reserve can afford to make a jumbo 50 basis points rate cut next week without spooking markets, according to one analyst.”

NAR –  “August 2024 Commercial Real Estate Market Insights” (09-11-24)

“With inflation and the labor market continuing to ease in July, the Federal Reserve’s rate cuts aren’t far off. Among all sectors in commercial real estate, the office sector, in particular, is eagerly awaiting these cuts. ”

Realtor.com – “The Best Time To Buy a Home Is the Week of Sept. 29 – Oct. 5” (09-10-2023)

“The 2024 homebuying season was relatively slow as still-high home prices and mortgage rates limited buyer demand. However, this fall is poised to bring lower mortgage rates and more for-sale inventory.”