Stock Market Today: Dow Rises; S&P 500 Chases Record High; Apple, Microsoft, and Other Movers; Treasury Yields ... - Barron's

Declining mortgage rates and a double-digit increase in new listings are bringing house hunters off the sidelines, with pending sales posting their smallest decline in about 20 months, Redfin says.

U.S. pending home sales dropped 4% year over year during the four weeks ending Dec. 24, the smallest decline since March 2022.

As of Wednesday, the daily average 30-year fixed mortgage rate was 6.61%, the lowest it's been since May.

Mortgage-purchase applications were down 1% from a week earlier, but up 7% from a month ago.

As of Dec. 24, the median sale price for homes was $364,250, up 4.5% from last year.

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