Posted 12/29/2023, 12:18:00 AM
Mortgage Rates Continue Sliding, Sparking Housing Market Turnaround Hopes
- Mortgage rates have declined steadily over the past 9 weeks, improving housing affordability
- Lower rates have driven a surge in mortgage applications and new home listings
- The Fed is expected to cut interest rates 3 times in 2024, further aiding the housing market
- Housing remains largely unaffordable, but lower rates could fuel a gradual recovery in home sales
- Redfin, Fannie Mae, and Freddie Mac stocks have soared recently on expectations of a rebound
