Homebuyers to get springtime boost from lower-than-expected mortgage rates
Less than six months ago, mortgage rates marched above 5 percent – the first time in seven years – and for weeks showed no signs of abating. It was a tipping point for house hunters. Beaten down by rising prices, meager housing choices and bidding wars, they saw rates as one more obstacle and called it quits, causing sales to plummet, even in the hottest of U.S. markets. “It was somewhat of a surprise to see the degree and intensity of the pullback,” said Robert Dietz, chief economist of the National Association of Home Builders. “Five ...
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