Reported 28 days ago
Bob Broeksmit, President and CEO of the Mortgage Bankers Association, emphasized that the 'stubborn supply gap' of available homes is driving up housing prices, which have increased by 5.2% year-over-year. He notes that while the rising home costs exceed general inflation, declining mortgage rates may offer some hope for affordability for Americans. Broeksmit also mentioned that the market has already factored in anticipated interest rate cuts by the Federal Reserve.
Source: YAHOO