CNBC Survey Finds Most Homebuyers Expect Mortgage Rates to Drop Further

The latest CNBC Housing Market Survey reveals a significant finding: the majority of prospective homebuyers believe that mortgage interest rates will continue to fall. This optimism is a key factor influencing buying decisions and overall market sentiment.

The survey likely indicates that homebuyers anticipate a shift in Federal Reserve policy or broader economic cooling. They may be delaying purchases, hoping that patience will be rewarded with lower monthly payments and increased affordability. The prevailing belief is that the high-rate environment of the past year has peaked.

This expectation is creating a peculiar dynamic in the housing market. While current high rates continue to constrain inventory (as existing homeowners are unwilling to give up low, locked-in rates), potential buyers are holding firm on their future outlook.