Why were there so few home sales last year?
Mortgage Rates In January 2023, mortgage rates were around 3.5%. By November, they were nearly 8%.
Avg. weekly rate, 30-year fixed rate mortgage
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Source Freddie Mac
4
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