Housing Market Update w/e 12/9/23

Mortgage Rates fell for the 12th consecutive week down to an average of 7%. The November jobs market added 200k jobs, however, home buying sentiment was at a record low in November according to a Fannie Mae survey. Hopefully with mortgage rates continuing to fall, things will turnaround in December and the new year. The Fed signaled this week that rate cuts were coming in 2024.