Reported about 1 month ago
In a recent discussion, Redfin CEO Glenn Kelman shared insights on the current mortgage rates, which stand at 6.35%, and their effect on the housing market. While there has been some movement in the market due to recent declines in rates, Kelman believes that a significant housing boom would require rates to dip to the low 5% range. He predicts that, if rates remain around 6% next year, home sales will see a notable increase due to improved affordability.
Source: YAHOO