Mortgage Rates Ease, But Housing Market Struggles
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Mortgage rates eased slightly today, dropping to 6.48% on March 25th, but remain above the March 19th low of 6.22% reported by Freddie Mac. Geopolitical tensions around Iran drove the change, with bond yields falling more than oil prices. Homebuyers are feeling the strain, with recent rate hikes eroding affordability gains. Zillow predicts a potential drop in home sales due to prolonged high rates and a slight unemployment bump, with the housing markets future hinging on how quickly these pressures fade.
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