The latest Freddie Mac weekly survey shows the 30-year mortgage at 5.98%, the first reading with a 5 handle since September 2022.  In historical context, rates are now around their lows excluding the Zero Interest Rate Policy era.  Look at those rates in the 70s and 80s.  Kids these days complaining about high interest rates have no idea how high they can go.

Lower rates and more housing inventory mean affordability is headed in the right direction, as Secretary Scott Bessent patiently explained on X to Elizabeth Warren: