Real estate investment trust prices are showing pleasure again on the expectation that the Fed will soon (1st quarter, 2024?) be lowering interest rates. Treasury yields are already dropping with the 30-Year back to 4.44% after hitting a remarkable 5% in October. It’s all good “expected” news for rate-sensitive sectors.
REITs definitely fit that category as lower rates would mean lowered costs among lenders and that brings in more buyers. They’ve been rallying strongly off of their October lows as the benchmark Real Estate Select Sector SPDR Fund clearly shows on this daily price chart:
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