Welcome to the Tearsheet Podcast. I’m Tearsheet’s editor in chief, Zack Miller. Uneven market conditions nationally, rate volatility, economic uncertainty, affordability challenges, limited inventory, and soaring home prices are rendering a difficult home buying and refinancing market for Americans. BMO’s published a survey that reflects this strongly: The survey reveals that 64 percent of Americans are delaying their homebuying plans due to mortgage rate concerns - they are waiting for mortgage rates to drop. Additionally, only 6 percent of Americans plan to purchase a home this summer, as elevated rates and home prices impact affordability. Furthermore, among those planning to refinance, 81 percent are waiting for rates to drop. On this episode of the podcast, I’m joined by Tom Parrish, managing director of consumer lending product management at BMO. We talk discuss the impact high interest rates and economic uncertainty are having on consumer home buying and financing decisions and how BMO is responding to help its clients and prospects. Here’s my conversation with BMO’s Tom Parrish.