Update To My Warm Summer Housing Market Call
From Live Trading Room (08.14.24)
In this short clip from Live Trading Room (08.14.24), I discuss the recent decline in yields and mortgage rates, predicting that this trend would trigger a refinancing wave beneficial for certain stocks like RKT.
I also highlight the broader impact on the housing market, noting that the slowdown in mobility due to high mortgage rates has stalled market activity.
I further outline my expectations for continued declines in mortgage rates, which could lead to challenges for banks as their net interest margins begin to shrink.
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