The Fed brought some relief to the housing market

• Daily mortgage rates dropped to 6.82% on Thursday, the lowest since May.
• That follows shortly after the Fed pointed to three rate cuts on the table in 2024.
• Redfin has forecasted mortgage rates to drop into the mid-6% range next year. 

The Federal Reserve's forecast for easing monetary policy in 2024 fueled stocks to new highs, dragged bond yields lower, and sparked a fresh wave of exuberance across Wall Street. 

But the housing market is also getting some needed relief from the forecast of lower interest rates in 2024.