Zillow

Mortgage rates remained relatively flat this week, helping housing to stay as one of the bright spots in the U.S. economy during the current uncertainty, according to Freddie Mac.

U.S. home prices rose the most in two years in August as low mortgage rates spurred competition for an increasingly scarce supply of listings.

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

The number of bidding wars increased for the fifth straight month, with Salt Lake City posting the highest rate of competitive listings in two years, according to Redfin.

Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.

Mortgage rates remained flat this week, a sign that the bottom has possibly been reached, but the housing market looks to remain strong for the near future, according to Freddie Mac.

Mortgage rates fell back toward their all-time low this week, increasing purchasing power for homebuyers. But the lack of homes for sale drives up prices and reduces affordability, according to Freddie Mac.

Home prices in 20 U.S. cities gained in July, pushed higher by demand for housing that has been fueled by low mortgage rates.

Dallas had the greatest price gains in more than a year the latest nationwide comparison.

More counties have median home prices above their historic averages for typical wage earners, the company found.