Low mortgage rates pull buyers back into the housing market

Low mortgage rates pull buyers back into the housing market

A sharp drop in mortgage interest rates in December may have kicked off this year’s spring housing market early. Prices are down about a full percentage point from where they were in October, and consumers expect they will fall even further.

Optimism about mortgage rates rose sharply in December, according to a monthly consumer survey by Fannie Mae. For the first time since the survey was launched in 2010, more homeowners on Net Belief rates will fall rather than rise, according to Mark Ballem, deputy chief economist at Fannie Mae.

(Tags for translation)Interest rates

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