Mortgage rates are close to the ‘magic number.’ Will it matter for California’s market?
Mortgage rates have made a noticeable decline from peaks in the high-7% range last fall, and the housing market is abuzz in the wake of this week’s Federal Reserve benchmark rate cut. Are buyers and sellers ready for a little magic?Some real estate experts say there’s a “magic number” for 30-year rates at which the housing market really hea