With the U.S. central bank poised to start lowering rates, 30-year mortgage rates have dropped to the lowest level since May 2023. The Fed signaled that a slowing economy and labor market could mean a rate cut as soon as September.
Meanwhile, the Labor Department’s monthly jobs report showed the unemployment rate jumped in July. JP Morgan Chase CEO Jamie Dimon said again on Wednesday that he sees a recession on the horizon. NTD Business Matters spoke to real estate expert Ernest Chi to find out more.