Housing markets that could see the biggest impact from falling mortgage rates

Published On Oct 8, 2024, 10:33 AM

The housing markets in Washington D.C., Denver, and Raleigh, North Carolina, are expected to experience the most significant changes due to the recent cuts in mortgage interest rates by the Federal Reserve. These markets have a high percentage of homeowners with mortgages, which means lower rates could stimulate borrowing and home buying activity. Conversely, markets like New Orleans, with a higher share of homes owned outright, may see less impact. Overall, the expected decline in mortgage rates could lead to an increase in market activity, as more buyers may re-enter the housing market.