Mortgage rates plunge to lowest level in 15 months
Inventory is higher heading into fall compared to recent years, so if the Federal Reserve chooses to make deeper rate cuts in September, that could lead to a late-year uptick in sales.
Mortgage rates still not low enough to spark buyer interest
"Even with moderately lower mortgage rates, affordability remains close to historic lows due to the high level of home prices relative to incomes," said Mark Palim, Fannie Mae's deputy chief economist.
Mortgage rates tumble; time for buyers to ‘get serious’
The steady decline hasn't done much to increase demand to buy homes, a trend that's not uncommon, said Sam Khater, Freddie Mac's chief economist.