Though weekly changes in borrowing costs are volatile, housing activity is reaching more balanced levels—which is ultimately good for buyers, says Freddie Mac’s chief economist.

“Home prices have increased at a pace that far exceeds wage gains, especially for low- and middle-income workers,” says NAR Chief Economist Lawrence Yun.

NAR’s chief economist shares what now needs to happen to bring down borrowing costs and increase affordability for home buyers.

While women make up more than 60% of the real estate profession, they do not hold nearly that same level of representation in industry leadership roles.

The average monthly mortgage payment has fallen 12% reduction in just two months as high borrowing costs moderate, says NAR Chief Economist.