Homebuyers Don’t Want To Keep Waiting For Mortgage Rates To Fall, Study Finds

Fewer prospective homebuyers are being scared off now by high mortgage rates, according to a Bank of America survey.

block house with a dollar sign inside
(Image credit: Getty Images)

Sky high mortgage rates might be scaring off fewer potential homebuyers than usual in recent months, according to a new report from Bank of America.

The bank, whose products include home loans, surveyed 500 homeowners and 500 renters and found that fewer of them (62%) are willing to hold off purchasing a home until mortgage rates and prices fall than there were just six months ago (85%).

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Jamie Feldman

Jamie Feldman is a journalist, essayist and content creator. After building a byline as a lifestyle editor for HuffPost, her articles and editorials have since appeared in Cosmopolitan, Betches, Nylon, Bustle, Parade, and Well+Good. Her journey out of credit card debt, which she chronicles on TikTok, has amassed a loyal social media following. Her story has been featured in Fortune, Business Insider and on The Today Show, NBC Nightly News, CBS News, and NPR. She is currently producing a podcast on the same topic and living in Brooklyn, New York.