Home sales contracts hit record fueled by low mortgage rates

Real estate has roared into the third quarter with no signs of slowing down. The Federal Reserve has pushed mortgage rates to all-time lows, below 3.0 percent on 30-year fixed-rate mortgages. This appears to have buoyed the real estate market. Rates will likely not go lower, so maybe it’s enough to hold the market while the rest of the economy recovers.