Borrowing costs have recently surged, raising questions about a fledgling sales recovery.
The volume of refinancings last week was nearly three times higher than a year earlier.
Rates on a 30-year fixed mortgage have fallen nearly 160 basis points from a recent peak in October 2023.
The presidential candidates have been forced to offer solutions to a mounting U.S. housing squeeze.
The rates gave home buyers a crack at the lowest loan costs they've seen in more than a year.
While listings are ticking up, house hunters are still struggling to find affordable properties.
The only price category to see rising sales in June was homes worth over $1 million.
The costs of a typical home consumed 35.1% of the average wage in the second quarter.
Multifamily buildings make up the biggest share of potentially distressed properties.
House hunters are getting hit with a double-whammy: high prices and high mortgage rates.