Could mortgage rates hit 8%? Realtor.com's Danielle Hale weighs in

Mortgage rates have climbed above 7.4%, and Realtor.com Chief Economist Danielle Hale says the housing market faces a challenging few months. US existing home sales rose 1.5% in September to just under 4 million, according to the National Association of Realtors, but fell 2.2% from a year ago. Hale explains why September sales reflect deals locked in when rates were closer to 6.7%, who has the upper hand between buyers and sellers, and why first-time buyers rose to 31% of sales. She also weighs the odds of 8% mortgage rates, how to rate-proof your budget if you plan to buy in six months, and how shopping around among lenders can get you a better rate. Market Domination, Market Domination Overtime and Asking for a Trend are live weekdays 3-5pm ET with Yahoo Finance Host Josh Lipton. 00:00 Existing home sales in September 00:39 Why the housing market is struggling 01:42 Homes under contract and waiting for lower rates 02:46 Do buyers or sellers have the upper hand? 03:43 Could mortgage rates hit 8%? 04:46 How to rate-proof your budget 05:25 Saving for a down payment 06:00 How to get a better mortgage rate #HousingMarket #MortgageRates #RealEstate #MarketDomination #YahooFinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571

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