Instant Reaction: Mortgage Rates, November 16, 2023

Mortgage interest rates are showing signs of relief for home buyers. They have now dropped to 7.44% from 7.5% the week prior. The three-week drop is a steady sign we likely have hit a peak and are headed south for mortgage rates, especially as the 10-year treasury continues its fall from a peak of 5

NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates

ANAHEIM, Calif. (November 16, 2023) – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday at the Commercial Economic Issues and Trends Forum at 2023 NAR NXT,

NAR Chief Economist Lawrence Yun Forecasts Existing Home Sales Will Rise by 15% Next Year and Mortgage Rates Will be Between 6-7% by Spring 2024

ANAHEIM, Calif. (November 15, 2023) – Elevated mortgage rates, high home prices and limited housing inventory are making the dream of homeownership difficult for Americans, according to NAR Chief Economist Lawrence Yun. Yun analyzed the current state of the U.S. residential real estate market and sh