Potential U.S. home buyers and sellers have kept a sharp eye on mortgage rates, which have contributed to the affordability crisis in the market.
And while buyers and sellers are both waiting for rates to fall, Telsey Advisory Group Senior Managing Director Joe Feldman and Realtor.com senior economist Ralph McLaughlin say affordability will still be an issue in the long run. The issue is that a decline in mortgage rates will eventually drum up that demand, “resulting in upward pressure on home prices and impacting affordability,” Feldman said.
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