Mortgage rates erased 9 months of gains, but buyers haven’t blinked - thestreet.com
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- 30-Year Refinance Rate fell 11 basis points on May 2, 2026, offering a modest cost cut for borrowers.
- Mortgage Rates have risen for nine months, wiping out earlier home‑price gains and pressuring recent buyers.
- Norada Real Estate Investments reported the mortgage interest rates for May 1, 2026, confirming the upward trend.
- CBS News says the current rate climate creates a downsizing opportunity for homeowners.
Why it matters: Homebuyers benefit from the 11‑basis‑point refinance cut, while recent owners who bought at higher rates see equity erosion, prompting a wave of downsizing that fuels inventory turnover.
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