High home prices and interest rates keep buyers and sellers stagnant, Redfin reports.
Tagged: Interest Rates
And 44% have taken on extra debt to maintain their lifestyle, according to a new survey from Clever Real Estate.
After sixth consecutive month with no change, the likelihood of cuts in 2024 feels "more out of reach."
Fannie Mae forecasts fewer Federal Reserve rate cuts this year.
Realtor.com's survey shows fewer prospective sellers feel locked in by their low interest rate.
Housing affordability also depends on house prices, which have competing effects.
Lower mortgage rates and rebounding sales are on the horizon.
While the Shelter Index remains high, experts see an opportunity for a decrease in mortgage interest rates.
Further cooling inflation a good sign for mortgage rates, analysts say.
Freddie Mac's survey highlights concerns for homebuyers and builders; introduces tool to aid with down payments amidst soaring rates