President Joe Biden, speaking in Pennsylvania, predicted that mortgage interest rates are set to decrease, suggesting that 3% could become the new norm, akin to the previous 2% standard. This statement has sparked discussions on the independence of the Federal Reserve and its decision-making process regarding interest rates. Biden's comments have led to speculation that home prices may surge as lower rates could increase demand for new construction and existing homes, with an emphasis on the fact that these prices are not measured in the Consumer Price Index (CPI). The anticipation of lower rates has been met with mixed reactions, with some viewing it as a positive development for potential homebuyers and investors, while others express concern over the implications for the Federal Reserve's autonomy.
BIDEN: I BET INTEREST RATES COME DOWN
BIDEN PREDICTS FED TO LOWER INTEREST RATES
Home prices are about to go ballistic again. I tried to warn you all! Good thing we don’t measure them in CPI Biden today quoted as saying the Fed is going to cut rates. We are so beyond an independent central bank but it’s all good (as long as you’re long new construction) https://t.co/vQE5qpdUYf
no shit https://t.co/BNMh60V67P
" That Little Outfit" 😭 https://t.co/MJCPBGftBY
🔴 JOE BIDEN PREDICTS INTEREST RATES WILL DECREASE.
Wow .. Biden speaking in PA just now: "that little outfit that sets interest rates .. it's going to come down. They're going to come down" Lower interest rates ahead?? #fed
BIDEN: MORTGAGE RATES WILL COME DOWN AND THE FED ACKNOWLEDGES THAT With the amount of money on the sidelines just waiting for lower rates to buy… pouring more gas on the fire & 3% the new 2% innit