Mortgage rates dropped to 5.98% in late February — the lowest since 2022 — boosting optimism for a busy spring housing market. However, affordability remains tough, with MovingPlace finding only 3 of 150 ZIP codes meeting the 28% housing cost-to-income rule. Experts urge buyers to factor in total ownership costs and consider debt reduction, lower-priced homes, or assistance programs. Rising inventory and easing “lock-in effect” may give buyers more options, though prices hold near $420K.