The US housing market is increasingly a focus of attention, with falling mortgage rates raising expectations for increased sales activity. Specifically, it is hoped that falling rates will free up the log jam, blocking entry-level buyers from moving into the market because homeowners have been unwilling to trade up to higher-priced homes in an expensive financing environment. However, mortgage rates have never solely influenced the character of regional residential home markets; employment trends and home price levels (which determine down payment requirements and influence bank mortgage qualification models) also come into play. The S&P 500 returned 1.1% for the week and ended at a new all-time high. After choppy trading amid concerns that the strength of the economy may slow the pace of rate cuts, markets moved higher on Friday on the back of strong earnings from the major banks. On the wealth planning front, we explore estate tax considerations of the sunset of the Tax Cuts and Jobs Act (TCJA).
Click Here to Read the October 14, 2024, Economic Commentary
Click Here to Read the October 14, 2024, Investment Commentary
Click Here to Read the October 14, 2024, Wealth Planning Commentary
