0:27
Mortgage rates around 6.5% are the new normal, not a temporary spike. If rates drop again, bidding wars return. Buyers should stop waiting for the 3% era to come back.
Mortgage rates around 6.5% are the new normal, not a temporary spike. If rates drop again, bidding wars return. Buyers should stop waiting for the 3% era to come back.
our whole society just got spoiled by free money for so long, sitting at 3%. And that's a hard thing to overcome. And I understand that you're sad you missed out on it. But y'all, it's not going to go back to 3%. Being at 6.5% right now might be painful because the cost of housing is high. But if the rates come back down, you won't be negotiating very much because there's going to be a more competitive market. Then we're back to the bidding wars.
