The housing market crash is still not over yet, with home prices expected to remain unstable until 2025 at the earliest, indicating persistent sector weaknesses.
Lower mortgage rates might not significantly stimulate homebuyer sentiment and could ultimately result in diminished interest income for household savings.
The proposed mortgage refinancing plan primarily benefits existing homeowners and does little to revitalize new home demand in a struggling market.
Analysts caution that even if borrowing costs are lowered, the resulting impact on consumption and new home demand may not be as positive as anticipated.
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