Housing Market Finds Stability Amidst Shift in Mortgage Rates
Monday, 25 March 2024, 15:44
Key Points:
In an interview with Yahoo Finance, Federal Reserve Bank of Chicago President Austan Goolsbee highlights housing inflation as a major concern for the Fed.
National Association of Realtors Chief Economist Lawrence Yun points out the shift in the housing market towards accepting higher mortgage rates.
- Mortgage rates settling at 6-7%, with lower rates unlikely in the foreseeable future.
- Increase in home listings anticipated as sellers adjust to the new housing market dynamics.
Expert Insight:
Lawrence Yun: "More people are adjusting to the new normal in mortgage rates, leading to a positive impact on the real estate market."
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.