Despite a notable drop in mortgage rates, the housing market continues to cool as potential buyers hold off on making purchases. This phenomenon, dubbed a “buyer’s strike,” reflects a broader hesitancy among would-be homeowners who are waiting for a combination of lower home prices, further decreases in mortgage rates, and wage increases before entering the market. Fannie Mae and other institutions have acknowledged this reluctance as part of the current market landscape.
Lower Mortgage Rates: Not Enough to Spur Demand
In August, mortgage rates fell to 6 . . .
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