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Here’s The Fed’s 2024 Meeting Schedule and Interest Rate Outlook

The Federal Reserve is expected to ultimately cut interest rates in 2024, but in a measured way and with action weighted toward the second half. Today, the Fed Funds target rate is 5.25% to 5.5%. Markets expect that to fall by approximately 1% by the end of 2024 — as assessed by the CME FedWatch Tool, which measures the implied expectations of the debt markets. The current range of outcomes for rates suggests a likely figure between 4% and 5% for short-term rates by December 2024.


What To Expect

The current narrative is the inflation is cooling and on track to return to the Fed’s 2% annual target over the medium term. Of course, the Fed still wants to see more data confirming that view. It has asserted that rates may increase again if inflation does not move progressively lower.


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FHA, FHFA Higher Conforming Loan Limits in ’24

Conforming loan limits are rising in the new year to keep up with escalating home prices, both the Federal Housing Administration and Federal Housing Finance Agency announced Tuesday.


The new conforming loan limit set by the FHFA for 2024 is $766,550 (a hike of $40,350 compared to 2023’s baseline amount of $726,200). FHFA is the regulator of Fannie Mae and Freddie Mac. For FHA, the new conforming loan limit for 2024 is $498,257, marking a $60,000 increase over last year’s baseline. FHA loans have lower minimum credit score and down payment requirements and are popular among first-time home buyers.


The conforming loan limits set by FHA and FHFA represent the baseline values that will be guaranteed by the federal government in 2024. However, more expensive areas can have higher limits, depending on the average prices in their markets. For example, in California, New York, the District of Columbia, Hawaii and other pricey markets, the limit for FHFA conforming loans in 2024 will be set at $1,149,825.


While conforming loan limits are the maximum amount guaranteed by the federal government, borrowers can still apply for jumbo loans.

Federal law requires FHFA and FHA to adjust their conforming loan limit values yearly to reflect changes in U.S. home prices. According to FHFA’s House Price Index, home prices rose 5.6%, on average, between the third quarters of 2022 and 2023.

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Wondering where you will go when you sell your house? With so few homes available today, it’s crucial to explore all your options. That includes both existing homes as well as newly built ones. If you're curious about the choices in our area, let's chat. I'm here to help you navigate what's available and find what suits you best. I'm always available and have time to talk, so let's connect to explore what our local market has to offer you. Call, text, or email me at (602) 332-9884 or JTDean65@gmail.com.

Twenty-Twenty-Four is sure to bring many new changes. Are you asking yourself questions, such as:


  • Is now a good time to upgrade?
  • When is a great time to purchase?
  • Is this our true dream home?
  • Where would my dream home be located?


If you and your family are looking to make housing changes and have questions regarding your real estate plans and needs, please know I'm here to help you, always.


I will never apply pressure, no pushiness, just here to help and have real conversation regarding the market and your home sell or home purchase.


I look forward to hearing from you.

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North Scottsdale

5 bed / 3 bath

2,912 Sq Ft

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Contact Me

We believe every family should feel confident 

when buying and selling a home.

We make our living from REFERRAL business!


Thank you to our clients for trusting us to

work with their family and closest friends,

along with their neighbors, co-workers,

and acquaintances.


WE APPRECIATE YOU!


(602) 332-9884

JTDean65@gmail.com

About JOHN T. DEAN with Realty ONE Group

JTD Sells AZ | 4003 E Via Montoya Dr. | Phoenix | AZ | 85050

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