Mortgage Rates Decline, But Homebuyers Remain Cautious
Despite a recent dip in mortgage rates, many Americans are delaying home purchases, awaiting further rate cuts and managing rising insurance costs.
- 30-year mortgage rates have fallen to 6.92%, the lowest in two weeks.
- 71% of Americans are waiting for interest rate cuts before buying homes.
- High home insurance costs are also discouraging prospective buyers.
- Some buyers are using creative strategies like house hacking and co-buying.
- The Federal Reserve's future rate cuts are anticipated but not imminent.
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