Americans have had good reason to be hesitant about the housing market over the past couple of years. Between skyrocketing prices during the pandemic and rising mortgage rates in the immediate aftermath, affordability became a top concern and a reason for potential home buyers to hit pause on their plans. These days, though, optimism is rising. In fact, according to one new survey, a large majority of Americans believe mortgage rates will fall in the months ahead and many of them have targeted a number that would get them to move. Among respondents, 64 percent said they were either “very encouraged” or “somewhat encouraged” that mortgage rates would drop soon. Twenty percent of respondents said they would be ready to buy if rates fell to 6 percent; 42 percent said 5 percent is their “sweet spot.” Whatever the number, it seems hesitant home buyers are finally getting ready to restart their home search.
Comments