Episode 127: Mortgage & Interest Rate Predictions For 2024

Elly Cummings, the Executive Vice President at New American Funding returns to the podcast this week to discuss the burning questions surrounding the real estate market. Elly reveals some surprising insights, including the fact that 20% of their business currently consists of refinances, despite higher interest rates. She highlights how consumers often prioritize low home interest rates while struggling with high credit card debt at 24%.

Elly, sheds some light on the financial shifts during the pandemic, where low interest rates led to increased consumer debt. This enlightening episode might shift your perspective on debt, where consumers carry their debt and how they could rebalance things to save themselves money on their monthly expenses. 

If you are someone who has been sitting on the sidelines waiting to buy or sell, this episode might be the gentle nudge that you need to get back in the real estate game. Elly emphasizes that while interest rates have risen, there are still positive aspects to be found in the current market. We are betting some people might even start rethinking their current position. Let’s dive in!