Rocket Companies Inc. reports a modest increase in homebuying demand as mortgage rates decline to their lowest levels in over 10 months. The median U.S. monthly housing payment has dropped to $2,593, and the weekly average mortgage rate has ticked down to 6.56%. Despite this, the rise in pending home sales is only 1.6% compared to last year, as many Americans still find homeownership unaffordable. Home-sale prices have also increased by 1.6% year over year. While there has been an uptick in homebuying interest, evidenced by a 5% increase in Google searches for "homes for sale" and a 27% rise in touring activity since the start of the year, new listings have grown by just 1.1%. Redfin economists advise buyers not to delay purchases in hopes of further rate drops, as current rates already account for anticipated Federal Reserve actions.