Posted 4/4/2024, 8:42:09 PM
Mortgage Rates Retreat Slightly But Housing Market Woes Persist, Says Compass CEO
- Mortgage rates have come down from 8% in October 2022 but are starting to rise again
- Housing inventory remains much lower than demand, making home buying seem impossible for many
- Compass CEO believes Fed rate cuts would help housing market more than anything by lowering mortgage rates
- Reffkin says rates in the 5-6% range could "completely open up" the housing market
- Compass paid $57.5 million related to NAR's landmark antitrust settlement on commission rates