Ideally, mortgage rates need to come down to a sweet spot.
This would involve a level where existing home sales jump, but demand doesn't heat up too much.
We believe that ~5% mortgage rates are that sweet spot.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) August 31, 2023
Former Federal Reserve Vice Chair Alan Blinder says there's less than a 50% chance that the Fed is done raising rates pic.twitter.com/MYrYJHpocM
— Win Smart, CFA (@WinfieldSmart) August 31, 2023
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