Jeff Taylor, Co-Founder and Managing Director of Mphasis Digital Risk, appeared on CNBC’s Squawk Box predicting Fed rate cuts on the horizon.
Reflecting on the US housing market, Jeff comments “If you look at the situation, it’s somewhat unprecedented, but you’re looking at probably at least 50 basis points, 100 basis points rate cuts based on geopolitical issues, versus the strong economy the U.S. has right now with wage growth at the fastest it’s been in over a decade for the middle class and unemployment around 4%.”
“All of a sudden, with mortgage rates down the affordability factor is going to kick in,” Taylor said. “The move-up on homebuyer or the first-time homebuyer may finally be able to get into the market. I think they’re a lot of positives happening in the housing market.”
Given the positive indicators in the economy, the rate cut seems more likely than ever, Taylor notes.
Watch the full clip here