Mortgage Rates Seen Dropping Below 6% by 2024, Potentially Spurring Home Sales After Affordability Slump
- Mortgage rates forecast to dip below 6% by end of 2024, spurring home buying
- Housing affordability hit 15-year low in 2023; expected to remain low in 2024
- Home sales projected to increase in 2024 after sluggish 2023
- New construction popular, especially among millennials
- Average new construction buyer income higher than existing home buyers