Where are second-home buyers purchasing homes? In some surprising places that aren’t the sunny resort areas you might expect. (Via MarketWatch Picks)
More Americans are clamoring to snag a vacation home these days. “A combination of permanent remote-work policies and record-low mortgage rates is contributing to an uptick in demand, with buyers racing to snag vacation homes before interest rates increase further,” says Taylor Marr, Redfin’s deputy chief economist. Indeed, mortgage rates are still near record lows — 30-year fixed rates now average about 3.4% and 15-year rates about 2.5% — but most pros predict that they will rise.
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