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Interestingly, 26.5% of homes on the market are selling above their list price, indicating a return to a more traditional market dynamic. This suggests that buyers may need to consider offering over the asking price to secure a desirable property.
Predictions for Mortgage Interest Rates in 2025
Moving on to mortgage interest rate predictions, it's crucial to understand the influence of the Federal Reserve's monetary policy on these rates. While the Fed does not set mortgage rates directly, its policies significantly affect bond markets, which, in turn, impact mortgage rates.