The September 2024 stats report showed that the Federal Reserve’s further reduction of interest rates in September provided a positive end-of-summer boost to the market. Double-digit increases in active and new listings and single-digit increases in median home prices demonstrated a tentative balance between the ongoing seller’s market and newfound buyer confidence. However, soon after that report was published, the mortgage rates spiked to the highest since mid-August. I have written about this seesaw of mortgage interest rates. Most experts caution that housing affordability will remain out of reach for many would-be buyers without deeper cuts to interest rates.