The housing market is seeing a decline in first-time homebuyers, dropping to a 43-year low due to high home prices and 7% mortgage rates. Many potential buyers are finding themselves priced out of the market, leading to a decrease in home sales. There is optimism that lower mortgage rates could help improve the situation, with speculation that billionaire Elon Musk may play a role in influencing rates through government policies aimed at addressing inflation and deficit concerns.

• Share of first-time homebuyers hits lowest level in 43 years
• Home sales declining due to high prices and 7% mortgage rates
• Speculation on lower mortgage rates and potential impact of government policies
• Federal Reserve actions and inflation data influencing mortgage rates
• Concerns over potential tariffs and impact on consumer prices

You can read this full article at: https://papersourceonline.com/economist-elon-musk-could-hold-the-key-to-lower-mortgage-rates/(subscription required)

Private Investors Capital is a professional private mortgage note buying firm with decades of experience. Contact us today for more information.