What Metros Will Benefit From Declining Mortgage Rates?

Metros with younger, more mobile populations like Washington, D.C., Denver, and Virginia Beach have the highest share of mortgaged households (over 70%), making them likely to see increased buyer demand as mortgage rates approach 6%. In contrast, cities like Miami, Buffalo, and Pittsburgh have more outright owners and may respond slower to falling rates. Nationwide, 64% of homes are owned, with two-thirds having mortgages, influenced by homeowner age and equity buildup.