Here's the magic mortgage rate that could get homeowners to sell again

The video discusses the challenges in the housing market, highlighting how high mortgage rates and low supply have trapped homeowners and made it difficult for renters to buy homes. The market freeze began in 2020 due to low mortgage rates and increased demand, leading to a supply drop and price surge. By 2023, home sales hit a low, with most homeowners having rates under 6%. Experts suggest a 5% mortgage rate could unfreeze the market by reducing competition and prices. Future rate cuts by the Federal Reserve could lower rates to 6%, affecting home affordability. However, income growth is also needed to return to pre-pandemic market conditions.

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