RERL-1779 – When will rates improve enough to make a difference?
How low do rates need to go to make a difference in the marketplace? Just a couple years ago consumers could get 30-year fixed loans with interest as low as 3%. This spurred a huge boom in refinances and home purchases. To no one’s surprise, interest rates jumped up to 8%. The sudden spike paralyzed the consumer and the economy making last year one of the worst years for real estate transactions. Will the market start to turn around now that interest rates have begun to settle in the 6-7% range? Today host Joe Cucchiara put his nearly 25 years in the real estate business to the test with these bold market predictions.
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