The mortgage market should improve in 2024 due to a combination of competitive pressures easing and mortgage demand picking up from historical lows last year, according to a note from Piper Sandler, a leading investment bank.

But don’t expect profitability to be significant compared to long-term historical averages as home prices still remain high.

Mortgage rates have softened in the past couple of months, leading to a slight decline in the median mortgage payment and a pickup in mortgage demand.

But even if mortgage rates dropped to 4%, the median monthly details ⇒

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