Mortgage rates are down, but many owners and buyers are waiting for them to fall more.
That should help thaw a real-estate market that had frosted over due to elevated mortgage rates.
AdvertisementProperty owners are also poised to benefit from lower rates, Xu and her colleagues noted.
Many owners are currently locked into the rock-bottom mortgage rates that were common in the late 2010s and early 2020s.
"Although mortgage rates have eased, market rates continue to exceed current rates for most homeowners, keeping them locked in 'golden handcuffs,'" said Danielle Hale, Realtor.com's chief economist, in a statement for the report sent to Business Insider.
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it's, —, Realtor.com, homebuyers, Jiayi Xu, Xu, Danielle Hale, she's, David Burt
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