Some homebuyers are returning to the market as mortgage rates decline from the four-month high they reached last week, according to a new report from Redfin, the combined brokerage and listings portal.
Mortgage rates – which topped out at 5.3 percent last month before sinking slightly to 5.1 percent last week – combined with rising home prices have pushed the traditional 30-year loan out of reach for many.
A team of researchers at the Federal Reserve Bank of Dallas issued a stark warning last week that American home prices “are again becoming unhinged from fundamentals.”
New reports from the Massachusetts Association of Realtors and online brokerage Redfin shows that the February housing market began heating up.
Inflation is the big story in the American economy right now, but experts have been divided on its ultimate impact on the housing market.
