The high mortgage rates of 2023 strained housing markets and slowed down home sales, and the expectation that the Federal Reserve Bank would cut interest rates in 2024 did not manifest. Unexpectedly, 2024 ushered in fluctuating mortgage rates that created widespread uncertainty in the broader housing market. THDA’s Great Choice Home Loan programs were not immune to the fluctuations of the housing markets in 2024. High home prices, interest rates, and broader market volatility continue to adversely impact potential homeowners, particularly those eligible for THDA mortgages.