According to recent data, 84.2% of nationwide mortgage debt is subject to interest rates below 6%.

An analysis by real estate portal Realtor.com on October 10 revealed the distribution of mortgage interest rates among homeowners as of the second quarter of this year. The breakdown showed that 21.6% of mortgages had interest rates of 3% or lower, 34.6% fell between 3-4%, 18.4% were between 4-5%, and 9.6% were between 5-6%. Only 15.8% of mortgages were subject to interest rates of 6% or higher, which is close to the current rate.

With the Federal Reserve (FRB) having implemented a significant 0.5% rate cut in September and further rate cuts expected, mortgage rates are also projected to continue declining.

In a recent survey, 82% of potential homebuyers indicated that high interest rates make it difficult for them to move, underscoring the importance of mortgage rates as a key factor for those considering purchasing a home.



<Hwandong Cho>