Interest Rates Are Falling: 1 Super Stock to Buy Hand Over Fist Right Now
RDFNRedfin(RDFN) The Motley Fool·2024-09-17 17:00

The real estate industry has been crushed under the weight of high interest rates, but its fortunes are about to change for the better.According to the Federal Home Loan Mortgage Corp. (Freddie Mac), the U.S. 30-year fixed mortgage rate hit 7.79% in October 2023, which was the highest level since 2000. It crushed the borrowing power of consumers, and it also made existing homeowners hesitant to sell for fear of abandoning their existing lower rate.As a result, high interest rates decimated the housing marke ...