Rates hit the lowest level since May 2023. Great news for the housing market.
Fannie Mae predicts rates will be under 6% by the end of 2024. Also great news.
A word of caution for buyers. As rates decrease competition from other buyers will increase and most likely drive home prices up. It's important to work with your lender to see if buying now vs later makes sense.
Housing Market Update - January 16
