Easing mortgage rates, rising inventory offer relief to homebuyers
The U.S. housing market has been in a sales slump dating back to 2022
Elevated mortgage rates, rising home prices and few properties on the market were to blame
Despite the pickup, sales are on track to be the lowest since 1995
Economists predict that U.S. mortgage rates will hover around 6% in 2025
Some economists say despite intentions, president-elect could set the stage for mortgage rates to move higher
Sales of previously occupied U.S. homes fall to weakest annual pace in nearly 14 years
Mortgage buyer Freddie Mac says average is at highest level in 8 weeks — up from 6.32% last week
Sales should improve thanks to lower mortgage rates, increasing inventory: economist
The pickup occurred amid easing mortgage rates and as more homes came on the market