Interest Rates and Multifamily in 2024

On the heels of a CPI report showing inflation on the slow decline, Federal Reserve Chairman Jerome Powell announced that the FOMC would keep the federal funds rate at its current level, with 3 rate cuts expected in 2024. Stock markets reacted with the typical enthusiasm associated with the hope of lower interest rates, and some interesting buying opportunities could emerge in 2024 for investors tracking stronger long-term rent growth and lower financing costs in the multifamily market.