Potential homebuyers are cheering the fall in mortgage rates, with the interest rate on a 30-year fixed mortgage falling last week to its lowest level since 2023. However, the ongoing home insurance issue is casting a dark cloud over the housing market for eager buyers.
Content creator, podcaster and “In This Economy?” author Kyla Scanlon joins Madison Mills on Market Domination Overtime to highlight the rising cost of home insurance. Scanlon outlines “a perfect storm for home insurance” as costs rise, especially in states like California and Florida where extreme weather and climate events are ravaging communities.
For people who buy a home to realize the American dream, it turns into an “American nightmare,” Scanlon says.
For more expert insights and the latest market action, click here to watch the full episode of Market Domination Overtime.
This post was written by Ivana Freitas.
