A new survey has found that nearly two-thirds of Americans are waiting for mortgage rates to drop before entering the market. This is a significant change from last year, when only slightly more than half of those surveyed said they were waiting for rates to fall.
The survey also found that:
– The median expected drop in mortgage rates is 1.5 percentage points
– 42% of respondents believe that mortgage rates will fall in the next 12 months
– 26% believe that rates will stay the same
– Only 8% of respondents believe that rates will rise
This change in attitude is likely due to the current economic climate, which has seen mortgage rates fall to historically low levels. However, with the economy showing signs of improvement, it is possible that rates will begin to rise in the near future.
You can read this full article at: https://www.housingwire.com/articles/survey-high-mortgage-rates-are-keeping-many-americans-from-buying-a-home/(subscription required)
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