Posted 11/30/2023, 1:10:01 PM
Mortgage Rates Drop as Home Prices and Demand Show Signs of Stabilizing
- Monthly mortgage payments have fallen over $150 from peak, to lowest level since August
- New listings are seeing biggest year-over-year increase since summer 2021
- 30-year mortgage rates have declined for 4 straight weeks after hitting 2-decade high
- Median home sale price up 4% year-over-year; inventory down 7%
- Buyer demand showing slight signs of improvement with upticks in applications and new listings