Mortgage Rates Hit Record Low, Igniting Housing Market

Declining mortgage rates are enticing sellers to list their homes, leading to an increase in new listings and consultations with Redfin agents. The housing market, which had been stagnant in 2023, is showing signs of thawing as sales are expected to rise after the holiday season. Despite a decrease in mortgage-purchase applications, buyers are showing interest in lower rates, and economists predict a surge in activity in the new year.