“Demand is being fueled by low mortgage rates. Meanwhile, mortgage rates have broken new records. The average rate on the 30-year fixed-rate mortgage is now at 2.86%, and the 15-year hit 2.37% this week—both all-time lows, according to Freddie Mac’s recent Primary Mortgage Market Survey. Low mortgage rates? Buyers who were held back from buying during the spring watched mortgage rates drop.

Source: Forbes September 11, 2020 15:11 UTC