Falling interest rates on Treasuries could lead to lower mortgage rates, which are key to a recovery in the housing market.

Turns out what we’re seeing may not be optimism as much as less pessimism.

Mortgage rates have popped back up above 7%, sales have fallen and builder sentiment is down. 5% would get things moving, per one economist.

Normally, higher interest rates mean cheaper homes. Not this time.

Zillow find that million-dollar homes are proliferating — and not just in the usual high-cost metro areas like New York, San Francisco and Los Angeles.

When you take mortgage rates, housing prices and incomes into account, homes are 44% less affordable than they were two years ago.

But the boom doesn’t seem to be reaching some parts of the country.

High interest rates and limited inventory are key factors in restricting affordability.

Mortgage debt has grown 30% since before the pandemic. But the majority of mortgage debt holders have rates below 5%.

People who sold a median-price home last year made more than $120,000 in profit on a typical sale, according to a new report out today from the property data company ATTOM.