08/13/2026
The mortgage interest rates need to come down to stimulate more buyers to purchase homes right now. The prices are high and the monthly payments are high. This has gone on too long without a recovery of lower rates. Meanwhile, more mega apartments are being built instead of affordable homes for first time home buyers. "America's Dream" of home ownership is for certain income level buyers and has eliminated MANY who would have bought like they did 7 years ago! The buyer pool has SHRUNK! Not good for Americans who want to build wealth through home equity!
The homeowners with 3% loans aren't moving because there's nowhere to go, and it would cost more in rates and payments! It doesn't make sense other than the retirees are moving due to their set income and high property taxes & insurance driving them out of their homes. We have to fix this travesty of lack of home ownership and reasonable payments for those buying a home TODAY. Most people thought the high rates were temporary and here we are...2026 and they are still high.
