Morris Invest’s Real Estate Wisdom: A Blog for Savvy Investors

The average fixed-rate 30-year mortgage continues to fall as it dropped by 0.06 percentage points, landing at 6.6% for the week ending January 18th, as reported by Freddie Mac. The current rates, marking a low not seen since May 2023, are stirring up expectations among prospective buyers and sellers, setting the stage for an active housing market. Increased activity is already evident despite the ongoing challenges of limited inventory and housing affordability, which makes it apparent that seller and buyer activity will be in full swing this Spring and Summer. But how will this impact the current market that's plagued with a housing shortage? Sam Khater, Chief Economist at Freddie Mac, provides some insight on this as he discusses the drop in mortgage rates, "This is an encouraging development...