As mortgage rates ease, will the summer housing market heat up?

As mortgage rates ease, will the summer housing market heat up?

Mortgage rates have eased slightly in the past week, a welcome sign for housing professionals and their clients. With the summer home-buying season in full swing, the question is whether they’re at a low enough level to keep activity flowing through the Labor Day weekend. On Tuesday, data at HousingWire’s Mortgage Rates Center showed that rates for 30-year conforming loans averaged 6.92%, down 7 basis points from one week ago. Rates for 30-year …

Housing stats: Total starts remain subdued, but market adjusts - Floor Covering News

Relatively high interest rates combined with persistent inflation and material supply constraints continued to put a drag on housing market activity in the U.S. in 2024, particularly new housing starts. According to the U.S. Census Bureau and the Department of Housing and Urban Development, total housing starts in 2024 totaled 1.367 million units, a 3.8% decline from 2023. The falloff in the multifamily segment of the market, however, was more p…