The Start of a Housing Market Comeback! | 1-Minute Market Update w/ Martin
The week, we dive deep into the recent drop of the 30-year fixed mortgage rate to 6.55%, its lowest point since May 2023. This significant decline has ignited hope for a potential housing market revival. We explore how lower rates impact homebuyers and homeowners, discussing the pros and cons of refinancing. While increased purchasing power is a boon for buyers, high home prices continue to be a major hurdle.
We also examine the challenges facing the housing market, including limited inventory and homeowner reluctance to sell. Join us as we analyze whether this rate drop is a game-changer or just a temporary reprieve.
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