Real estate mogul Barbara Corcoran predicts interest rate cut could create a surge in home prices [Yahoo! Finance]
Anywhere Real Estate Inc., (HOUS)
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Source: Yahoo! Finance
The rate on the benchmark 30-year fixed mortgage declined slightly to 6.79% last week, well below October's peak of 7.79%, according to Freddie Mac. For homebuyers, the prospect of waiting for lower borrowing cost might seem awfully enticing. But Corcoran, Shark Tank star and founder of the Corcoran Group, begs to differ. In a conversation on Yahoo Finance Live, Corcoran cautioned lower rates could bring more buyers into the market, boosting competition and sending already lofty prices “through the roof.” "If interest rates come down another point by year end, everybody and their mother and their in-laws are going to look for a new house, and the competition's gonna be so fierce that house prices will have to go up," Corcoran said. Home prices grew at a record pace in January, as more buyers came off the sidelines. And that fierce competition has led to an eruption of bidding wars, which often drives prices even higher. National Association of Realtors (NAR) data shows that
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HOUS
News
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- Anywhere Real Estate Inc. (NYSE:HOUS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
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HOUS
Earnings
- 4/25/24 - Miss
HOUS
Sec Filings
- 3/19/24 - Form ARS
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form DEF
- HOUS's page on the SEC website