Corcoran: Home Prices Could Go Through the Roof If Interest Rates Keep Dropping

Barbara Corcoran said housing prices "will go through the roof" if interest rates drop another percentage point, as there are many buyers waiting on the sidelines.

Mortgage interest rates are currently around 7% for a 30-year fixed and 6.125% for a 15-year fixed.

The Federal Reserve left interest rates unchanged in its latest meeting but may still cut 3 times this year.

Corcoran warned buyers not to wait for lower rates, as home prices could rise another 8-10% if rates drop due to increased demand.

She argued home prices will keep rising despite higher selling costs due to ongoing housing shortages overriding other economic uncertainties.