Posted 3/28/2024, 8:08:41 PM
Mortgage Rates Dip Below 7%, Sparking Hope for Housing Market Improvement As Inflation Expectations Ease
- Mortgage rates dipped below 7% this week, sparking hope that more homes could hit the market soon as rates continue to fall
- Consumer views on the economy stabilized in March after improving from last year's levels; inflation expectations also moderated
- Pending home sales ticked up 1.6% in February, showing slow improvement in the housing market compared to last year
- The economy grew at an annualized rate of 3.4% in Q4 2022, faster than initial estimates due to strong consumer spending
- Jobless claims fell slightly last week, remaining at historically low levels indicating the job market is still strong