Seventy-two per cent of home buyers suspended their search for low-interest mortgages, and 41 per cent regretted it

Seventy-two per cent of home buyers suspended their house search for lower mortgage rates, and 41 per cent regretted it. According to a survey commissioned by Neigbors Bank, the majority of the 1,000 potential buyers were unable to judge the current interest rate accurately, and only 35 per cent were able to correctly estimate the average interest rate on a 30-year mortgage. According to the survey, the waiting period for home buyers can be up to 14 months. According to Freddy Mac, the fixed interest rate for the 30-year period from January 2021 was 2.65 per cent and had risen to 7.79 per cent by October 2023. Fanny Mae ' s projections indicate that fixed interest rates for the next 30 years will remain between 6 and 6.5 per cent。