Homebuyer demand rebounded slightly after a small dip in the 30-year fixed-rate mortgage, but an inflated economy continues to pose affordability challenges even in a cooling market
The 30-year fixed-rate mortgage is down nearly a whole percentage point from its 2022 peak, and that boost in affordability is motivating prospective buyers to make a market comeback
Interest rates are down to their lowest level since September, and that slight improvement in housing affordability is motivating buyers to make a hasty return to the for-sale market
Soaring mortgage rates are leading to a sharp drop in housing affordability, and subsequently, in homebuyer demand, but rate hikes may have already reached their peak