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Redfin reported that competition is easing in the housing market as mortgage rates and prices hit a tipping point.
Redfin says a record-high share of home sellers dropped their prices after this month’s historic mortgage-rate hike.
People say they want to live in places where they agree with the social laws.
Increasing mortgage rates, home prices, and loan fees makes second-home buyers say no thanks.
Homebuying demand pulls back further as mortgage rates near 13-year high.
The national share of price drops reaches a record high.
