Most Potential Buyers or Sellers Waiting for Mortgage Rates Below 5% — RISMedia

At its latest meeting earlier in May, the Federal Reserve left interest rates unchanged, citing overall economic uncertainty due to factors such as tariffs. The most recent reports show consumer confidence in the economy improving. However, there are still some indications that prospective homebuyers remain largely cautious.

According to a new Realtor.com® consumer survey, 69% of Americans overall do not plan to engage in a real estate transaction within the next six months, and 63% say they are waiting for mortgage rates to drop below 5% before they would consider buying. Thirty-seven percent of all respondents also said that current mortgage rates have deterred them from buying.

At the same time, though, 23% of millennial respondents said they plan…