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- A strong US stock market means homebuyers are more tolerant of high mortgage rates, Compass CEO Robert Reffkin said.
- Mortgage rates have been climbing back up towards 8% after hotter inflation data and delayed Fed rate cuts.
- But "you don't need 6% mortgage rates when the stock market is at an all-time high," says Reffkin.
Mortgage rates have been creeping back up towards 8%. But one expert says a roaring stock market has been helping to blunt the increase.
"You don't need 6% mortgage rates when the stock market is at an all-time high," Robert Reffkin, Compass CEO said on CNBC on Thursday. "You have markets like the Bay Area, like Seattle, where people are paid in their bonuses, and their compensation is in stock — it's at an all time high, they can afford a home."