A significant drop in interest rates to around 3% could lead to a new frenzy in the housing market, as homeowners with lower rates might be incentivized to sell.
"If interest rates come back down to about in the 3s. Anybody with a 2.8 says, "Okay, I'm fine giving this up. I don't mind." But you risk then reinvigorating the housing market and causing a brand new frenzy."
