Meet the home buyers totally unfazed by 7% mortgage rates

In September, individual investors and second-home buyers drove a notable surge in home purchases, making up 20% of all transactions—the highest proportion in over a year. Despite mortgage rates hitting 7%, these buyers remain undeterred, likely fueled by a combination of financial savvy and speculative strategies. This trend suggests that the housing market remains resilient, with a segment of buyers unfazed by rising rates, pointing to underlying confidence in the market and potentially signaling a shift in consumer behavior.