Mortgage rates: ‘The consumer recognizes rates in the 5 or 6’s is really good,’ Taylor Morrison CEO
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According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume dropped 5.6% last week from the previous week. The average 30-year mortgage rate continues to float above 7%, disincentivizing potential homebuyers. Taylor Morrison (TMHC) CEO Sheryl Palmer joins Yahoo Finance to discuss how the housing market has dealt with the volatile rates. Palmer suggests consumer tolerance is growing: “The consumers have come a long way in the last year, 18 months, when rates were flirting at the 7%. The difference from where we are today to where we were then is, back then they were still hoping rates would go back to 4%. I think the consumer […]