Hopes for the first wave of interest rate cuts to come in early 2024 are fading as Federal Reserve officials signal higher for longer rates. Stifel Director Andrew Carter joins Yahoo Finance Live to discuss the greater implications for the housing market. Carter notes higher rates could constrain "housing turnover," and that construction may "continue to throttle existing home sales" as rates rise. However, he sees new home sales "continuing to do well" by slowly cutting excess inventory as affordability issues persist. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Hopes for the first wave of interest rate cuts to come in early 2024 are fading as Federal Reserve officials signal higher for longer rates. Stifel Director Andrew Carter joins Yahoo Finance Live to discuss the greater implications for the housing market.
Carter notes higher rates could constrain "housing turnover," and that construction may "continue to throttle existing home sales" as rates rise.
However, he sees new home sales "continuing to do well" by slowly cutting excess inventory as affordability issues persist.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Associated Press Finance
JPMorgan Chase plans to open at least 500 new branches in the next three years, the bank said Tuesday. It will reverse a decade-long industry trend where banks like JPMorgan and Bank of America have closed branches as fewer Americans need to cash a paycheck or pull money out of an ATM. The new branches will be primarily located in cities such as Boston, Charlotte, Washington, D.C. as well as Philadelphia and Minneapolis.
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