How Can Homebuyers Gain Leverage Even in a Market with Tight Inventory?

Dr. Anthony Chan, Former JPMorgan Chase Global Chief Economist & Current Chief Economist for BrightQuery

Beyonce’s last hit, "Break My Soul" (released in June 2022), encapsulates the U.S. housing market's remarkable resilience despite the sharp uptick in U.S. mortgage interest rates that hit the sector with the equivalent of a two-by-four piece of wood!  The average U.S. mortgage rate, as computed by Freddie Mac, rose from 2.65% on Jan. 7, 2021, to a peak …