Fed-fueled mortgage rates decline could break up Twin Cities real estate log jam

After a foul year to be a prospective homebuyer, people could be toasting more than just the new year in 2024. Mortgage rates have fallen for seven-consecutive weeks, and there's fresh speculation the Federal Reserve Bank will lower rates in the coming year . That will likely trigger further declines in mortgage rates at a time when both buyers and sellers are trapped in a standoff: Those who can't find a suitable — or affordable — house vs. those who won't move so as not to lose their pandemic-low rate. "There's pent-up demand," said Sharry Schmid, president of Edina Realty. "People are wanting to sell and buy." This week, the…