Mortgage interest rates creating a bargain market, New York City real estate powerhouse says

Looking for a home? But also looking for a deal? You’re in luck. According to a mother-daughter team that dominates in New York residential real estate, interest rates are creating a bargain housing market.

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“Buyers will buy if they get a bargain, so they’re looking for that bargain," Dolly Lenz, co-founder of Dolly Lenz Real Estate told Maria Bartiromo on Thursday. "Interest rates are so good now, that anybody looking to buy is saving 0.3 percent from just a month ago.“

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Dolly's daughter Jenny Lenz also said that spring is the best time of year for new home buyers and she's seeing more inquiries and increased foot traffic at open houses.

"As sellers become more realistic," she said.  "We're going to see a lot more traction, a lot more buyers in the market."

Dolly also said that buyers are looking for “smaller, more efficient, newer homes.”