Home sales seeing ‘seasonal uptick’ as mortgage rates slip

US existing home sales increased by 0.8% in November as mortgage rates fell below 7%. The CEO of ResiClub, Lance Lambert, believes that if mortgage rates continue to decline, home sales could improve. However, affordability and market conditions may still limit the extent of the increase. Lambert also discusses the potential impact of interest rate cuts by the Federal Reserve in 2024 on mortgage rates and Treasury yields.

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