30-Year Fixed-Rate Mortgage Surges To 7.49%
WRE News October 7, 2023
Buyer
WRE News October 7, 2023
Buyer
The 30-year fixed-rate mortgage spiked again, averaging 7.49% as of Oct. 5, according to new data from Freddie Mac (OTCQB: FMCC). This is up from last week when it averaged 7.31%. A year ago at this time, it averaged 6.66%.
“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s chief economist. “Several factors, including shifts in inflation, the job market, and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.
Freddie Mac also reported the 15-year fixed-rate mortgage averaged 6.78%, up from last week when it averaged 6.72%. A year ago at this time, it averaged 5.90%.
Stay up to date on the latest real estate trends.
Buyer
January 15, 2025
Buyer
January 14, 2025
We’re officially in the winter stretch, and in many parts of the country, temperatures have plunged—leaving many homeowners struggling with how to beat the chill.
Lifestyle
January 14, 2025
A cup of coffee is the quintessential staple of a morning routine—at least in the U.S.
Buyer
January 14, 2025
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner?
Lifestyle
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
Buyer
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… Read more
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today