Reported 1 day ago
Mortgage rates have recently decreased, reaching a low of 6.58%, yet this drop may not be sufficient to revitalize the homebuilding sector. NAHB CEO Jim Tobin suggests that rates need to be closer to 6% for buyers to feel confident, which would encourage more home construction. He also highlights the importance of potential Federal Reserve rate cuts to stimulate market activity and financing for builders, while addressing regulatory challenges. Overall, a consistent decline in mortgage rates could facilitate a resurgence in the housing market.
Source: YAHOO