Homebuyer demand rebounded slightly after a small dip in the 30-year fixed-rate mortgage, but an inflated economy continues to pose affordability challenges even in a cooling market

As home sales increase and mortgage rates slowly decline, housing experts say the market is gaining steam in 2023

The 30-year fixed-rate mortgage is down nearly a whole percentage point from its 2022 peak, and that boost in affordability is motivating prospective buyers to make a market comeback

Interest rates are down to their lowest level since September, and that slight improvement in housing affordability is motivating buyers to make a hasty return to the for-sale market

Soaring mortgage rates are leading to a sharp drop in housing affordability, and subsequently, in homebuyer demand, but rate hikes may have already reached their peak

Mortgage rates fell slightly at the start of 2023, causing a slow but steady rise in refinancing applications to kick off the new year

As mortgage rates began climbing at the start of 2022, a number of homebuyers took out adjustable-rate mortgages with the hope of saving money, but as rates continue to rise, many now regret doing so

As the Federal Reserve doubled down on its efforts to tame inflation, millions of households were priced out by higher mortgage rates in 2022

After soaring to a peak 7% in 2022, interest rates are expected to fall by more than a percentage point in 2023, but for a number of priced-out buyers, a slight increase in housing affordability won't be enough