From Jacob Passy at MarketWatch on June 15, 2019:
Home price appreciation is slowing. Consumer sentiment about the housing market is at a five-year high. To cap it all off, mortgage rates have continually fallen throughout 2019 to date. Currently, the 30-year fixed-rate mortgage is averaging 3.82%, roughly a two-year low, according to Freddie Mac. So far this year, mortgage rates have only increased on a weekly basis six times. Historically, that’s been a recipe for a home-buying frenzy. “We are in an extremely interest-rate-sensitive housing market,” said Daren Blomquist, vice president of market economics at Auction.com.