Economists, experts say status quo for mortgage rates, home prices

It’s been 10 months — October 17, 2024 — since the Freddie Mac’s 30-year mortgage rate dropped below 6.5%. It’s been 37 months since rates dipped below the 6% mark. This week the Freddie rate landed at 6.72%. It’s the same, and getting old, this Southern California housing story. High mortgage rates and high home prices are crushing affordability. Is this going to continue or change? After all, it’s been a solid three-year slowdown. I’ve asked economic and housing experts to weigh in. Jordan Levine, the chief economist for the...