This summer's cheaper home loans ignited real estate buzz suggesting California's two-year homebuying slump may be nearing its end.
Yes, lower rates mildly prune California's huge affordability challenges, but could create a rush to buy, forcing California prices even higher.
Remember, interest rates typically fall when the business climate cools.
When mortgage rates fell, California prices gained only 4.4% on average, less than the 10%-a-year gains seen with rising rates.
#mortgage-rates #california-real-estate #homebuying-slump #economic-impact #affordability-challenges
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