These 10 cities will be the biggest winners following the Federal rate cuts

The Federal Reserve cut rates, aiming to rejuvenate the sluggish real estate market, where high mortgage rates previously paralyzed homebuyers and sellers.

After hitting a peak mortgage rate of 7.79% in October 2023, rates have dropped to 6.2%, the lowest since February 2023.

If mortgage rates fall to 6%, US buyers could have an additional $9,000 in purchasing power, and with a 5.5% rate, it could be $34,000.

The top 10 metros that will see the largest dollar increase in buying power are primarily the country's highest-priced areas, according to Hannah Jones.

Read at New York Post