Posted 12/15/2023, 9:43:36 PM
Mortgage Rates Dip Below 7% as Home Sales Show Tentative Signs of Rebound
- Mortgage rates have dropped below 7% recently, providing some welcome news for buyers
- New listings and pending home sales increased in November to their highest levels in about a year
- Evidence of an uptick in housing market activity is still largely anecdotal at this point
- A record high percentage (17%) of pending sales fell out of contract in November due to economic uncertainty
- It's still too early to say for certain how the housing market will unfold in 2024