Mortgage rates have seen a modest decline, sitting at 6.67%, yet they remain high compared to historical lows. This, coupled with continuing elevated home prices, creates a tough market for potential buyers. Many existing homeowners are reluctant to sell due to their locked-in low rates, contributing to limited housing inventory. However, there's hope for a brighter future if the Federal Reserve lowers interest rates later in the year, potentially easing mortgage costs in 2025. For now, buyers face challenging conditions with few options available.
Mortgage rates are falling but remain high, making it a challenging time for potential buyers amid elevated home prices and limited inventory.
Collection
[
|
...
]