High Mortgage Rates Scare Off Potential Home Buyers

With mortgage rates at their highest in decades, the housing market has turned upside down. One year ago, the real estate boom induced by the pandemic had open houses with lines down the street. Now, even a lovely home with a modern kitchen and bathrooms in a great school district sits on the market with no takers. But Christine Tremain of Weichert Realtors says mortgage rates will eventually go down.