2024-01-23 07:15:00 ET
The housing and real estate industries have been pressured by high interest rates. Less than three months ago, the 30-year mortgage rate was approaching 8% -- its highest level in over 20 years. A high mortgage rate prices out a lot of buyers. But rates have cooled since then, and the 30-year is back down to 6.7% at the time of this writing.
2024 could be a year when the Federal Reserve begins cutting rates instead of raising them, which could help consumer spending and, in turn, the housing market. Here's why Home Depot (NYSE: HD) , Owens Corning (NYSE: OC) , and Enphase Energy (NASDAQ: ENPH) could be three top stocks to play a rebound in the housing market .
Image source: Getty Images.
For further details see:
3 Top Stocks to Buy From an Industry That Could Soar in 2024