Like many economic metrics, the journey toward stabilizing the U.S. housing market is fraught with challenges. Although there has been a modest recovery in home sales and inventories from last year's lows, elevated mortgage rates continue to hamper affordability, deterring many potential buyers.
According to a recent survey by national property broker Redfin, almost 58% of U.S. homeowners feel they probably couldn't afford to repurchase their current homes at today's prices and mortgage rates.
Based on Freddie Mac's latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage averaged 7.17 percent as of April 25, 2024.
On March 28, 2024, the Antitrust Division of the U.S. Department of Justice (DOJ) intervened for the third time recently, backing plaintiffs in class action lawsuits challenging defendants' utilization of pricing software.
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