
Mortgage Rates Driven to Historic Lows by the Coronavirus Amp Up Homebuyer Purchasing Power
A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks.
Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website <a href="https://seattlebubble.com/" title="Seattle Bubble"><em>Seattle Bubble</em></a>, and produces the <a href="https://dispatches.fm/" title="Dispatches from the Multiverse">"Dispatches from the Multiverse" improvised comedy sci-fi podcast</a>.

A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks.

A majority of offers submitted by Redfin agents faced competition in January according to a survey of more than 500 Redfin agents across the nation.

U.S. home-sale prices increased 6.7% year over year in January to a median of $306,400 across the 217 metros Redfin tracks.

Twenty-six percent of Redfin.com home searchers looked to move to another metro area in the fourth quarter of 2019, compared to 25% during the same period last year.

The US housing market is already off to a strong start in 2020, as buyers come out of winter hibernation early.

A record shortage of homes for sale drove prices up on a monthly and annual basis. U.S. home-sale prices increased 6.9% year over year in

A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks.

A majority of offers submitted by Redfin agents faced competition in January according to a survey of more than 500 Redfin agents across the nation.

U.S. home-sale prices increased 6.7% year over year in January to a median of $306,400 across the 217 metros Redfin tracks.

Twenty-six percent of Redfin.com home searchers looked to move to another metro area in the fourth quarter of 2019, compared to 25% during the same period last year.

The US housing market is already off to a strong start in 2020, as buyers come out of winter hibernation early.

A record shortage of homes for sale drove prices up on a monthly and annual basis. U.S. home-sale prices increased 6.9% year over year in