Rising mortgage rates and home prices sidelining buyers but now is the time to purchase, report says

Rising mortgage rates and home prices are currently sidelining many buyers, leading to decreased foot traffic at open houses. In Chicago's Lincoln Park, Realtor Tommy Choi noted fewer visitors and offers compared to the summer, although properties still sell above asking prices. Conversely, some buyers remain unfazed by 7% mortgage rates. Individual investors and second-home buyers represented one in five home purchases in September, marking the highest share seen in over a year.