Hometap's Dan Burnett Discusses Mortgage Rates' Impact with Business Insider

Hometap's Head of Investor Product, Dan Burnett, discusses with Business Insider the effects of impending rate cuts on mortgage rates.

Wondering how the latest Federal Reserve meeting could impact affordability for homebuyers? Mortgage rates are likely to go down as the Fed lowers the federal funds rate. But whether they'll drop further soon depends on the commentary coming out of this upcoming meeting and the size of the Fed's cut. 

"Homeownership is still expensive, but it is getting better," Burnett says. "Lower mortgage rates will help, but that is only half the battle when it comes to housing affordability. There is still a significant mismatch between supply and demand in this market."

This article originally appeared on Business Insider. Read more of Dan's insights in the full article here.