Mortgage rates, influenced by bond markets, show 30-year rates at 6.95% and 15-year rates at 6.12%, adding hundreds monthly to borrower costs. Despite December's sales increase, 2024 marked worst performance in 30 years, following 2023's record low.
Rates briefly hit 2-year low in September 2023 before rising amid inflation concerns, Trump policy uncertainties, and 10-year Treasury yield reaching 4.53%.