In October, the average 30-year fixed mortgage rate hit 7.8%, which was the highest level in more than two decades. It caused a shock to the economy, mainly because rates were sitting at historic lows just two years ago.

But relief is on the way. According to Wall Street experts, the U.S. Federal Reserve is poised to cut interest rates six times in 2024, which could ignite a powerful move in the stock market. Below, I'm going to explain how we arrived at this point, and what it means for investors going forward.

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Source Fool.com