Mortgage rates could fall below 5% next year, emboldening US consumers and allowing banks to 're-liquify,' Fundstrat's Tom Lee says

• Mortgage rates could fall as low as 4.75% next year, according to Fundstrat's Tom Lee.
• Lower rates could be a positive for consumers and "re-liquify" banks, he told CNBC.
• Markets are expecting the Fed to cut interest rates next year, which could lower home borrowing costs.

Mortgage rates could fall more than 200 basis points next year as the Federal Reserve slashes borrowing costs, boosting US consumers and banks, according to Fundstrat's head of research Tom Lee.