With mortgage rates at their lowest level in 2024 and sure to go lower – especially if the Fed cuts interest rates in September, as expected – more homeowners will be willing to put their properties on the market.
While only 5.3% of all mortgages nationally are above 6.5%, there are a number of metro areas whose percentage of mortgages are higher than the 6.5% rate. These areas will likely see strong activity in the coming months. The percentage of mortgages currently over 6.5% is included.
- Naples, FL – 15.2%
- St. Louis, MO – 13.9%
- Myrtle Beach, SC – 13.4%
- Cape Coral, FL – 12.4%
- Miami, FL – 11.7%
- Albuquerque, NM – 11.6%
- Kansas City, MO – 11.0%
- Fort Wayne, IN – 10.5%
- Oklahoma City, OK – 10.4%
- New Haven, CT – 10.3%