In September, interest rates fell to 6.08%, following the first reduction of the Federal Reserve's rates since 2020. One of the key factors contributing to this slowdown has been the increase in mortgage rates, which exceeded 6.5% for most of the year. However, last week rates rose again, surpassing 7%, before dropping back down to 6.96%. "Sales of homes in the U.S. in 2024 represent a sobering picture," said Bob Broeksmit, CEO of the National Association of Realtors. "Sales of existing homes reached their lowest level since 1995, totaling just 4.06 million units," reported the National Association of Realtors.
