Justin Lahart

speaker

1,185 appearances 22 recordings 1 series first heard Jul 2017 last heard Dec 2024

Justin Lahart’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Borrowers Will Benefit From the Fed’s Interest-Rate Cut · 19 Sep 2024 podcast

or the 1998 hedge fund shock that we saw.

This is not the case now.

So it is a very interesting moment.

And that also means that the rate cuts, how they work, may play out a little bit differently than what we've seen in the past.

Those will just go down in line with what the cut is.

So they'll still be quite high, especially relative to what we've seen in the past.

So that offers a tiny bit of relief.

For people who carry credit card balances, the bigger sort of channel for Fed rate cuts for consumers will be through housing.

We've already seen mortgage rates have gone down quite significantly.

It's hard to know, but there is a thought that cuts in short-term rates will bring mortgage rates down.

So definitely we could see more relief on that front.

We've already seen a significant amount, and we're starting to see that show up in housing.

We had a report this week that housing starts and housing permits have started to pick up.

We've also seen a pickup in mortgage applications for the purpose of buying a house.

And that also is a reflection of this drop that we've seen in mortgage rates.

You suspect that as rates come down, there will be lenders who will be pushing HELOC saying, hey, isn't this a good idea?

And for a lot of people, if they're stuck in their home, they have a really low mortgage rate, they don't want to move, the alternative is put in a new deck, make it a little bit nicer.

So we might see some of that.

What changes are small business owners likely to see?

Small business owners, unlike big businesses, they can't tap the bond market.

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