Reported about 1 month ago
Redfin CEO Glenn Kelman highlights that the sluggish response of homebuyers to low mortgage rates might lead to an increase in rates if the Federal Reserve only cuts by 25 basis points. Currently, the average 30-year fixed mortgage rate stands at 6.35%, with Kelman noting that rates may decrease more significantly with a larger cut, as buyers wait for further market signals and listings remain limited.
Source: YAHOO