Mortgages rates have fallen for the fourth week in a row. The average rate for a 30-year fixed-rate mortgage is down to 7.29%, according to Freddie Mac. That rate is still higher than it was a year ago, but it has been enough to lure some buyers back into the market, with the Mortgage Brokers Association reporting an uptick in mortgage applications. So what does this all mean for 2024? Morgan Stanley economists say there are a lot of factors that will be driving the housing market next year, but their base case is that home prices will fall 3% if mortgage rates come down. Yahoo Finance Housing Reporter Dani Romero breaks down the report. #youtube #mortgages #yahoofinance
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