On Thursday, Freddie Mac reports on this week’s average U.S. mortgage rates. Real estate showings jumped nearly 10% the final week of January compared to the first week of 2024, according to a Wall Street Journal analysis. Sam Khater, Freddie Mac’s chief economist, said in a news release mortgage rates have stabilized for nearly two months after October’s record 7.79% average rate. “Although affordability continues to impact home ownership, the combination of a solid economy, strong demographics and lower mortgage rates are setting the stage for a more robust housing market,” Khater said in the release. Despite the lower rates, however, many real estate experts predict that home ownership will remain out of reach for many.

Source: Forbes February 05, 2024 19:55 UTC