Mortgage Rates Plummet, Reviving Housing Market

Mortgage rates experienced a significant drop this week, the largest in a 45-day period ever recorded. Despite the possibility of a corrective bounce, rates have remained stable, with little movement observed. This provides a more reassuring outlook for the future, although the true trajectory of mortgage rates may not be fully understood until the release of the next Consumer Price Index (CPI) in the second week of January. The year-end trading process and reduced trader participation during the holiday season could result in unexpected market movements.