WRE NEWS October 19, 2024
Buyer
Mortgage rates continued to rise in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.44% as of Oct. 17, up from last week when it averaged 6.32%. A year ago at this time, it averaged 7.63%.
The 15-year fixed-rate mortgage averaged 5.63%, up from last week when it averaged 5.41%. A year ago at this time, it averaged 6.92%.
“The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%,” said Sam Khater, Freddie Mac’s chief economist. “In general, higher rates reflect the strength in the economy that is supportive of the housing market. But notably, as compared to a year ago, rates are more than one percentage point lower and potential homebuyers can stand to benefit, especially by shopping around for the best quote as rates can vary widely between mortgage lenders.”
Stay up to date on the latest real estate trends.
Seller
May 8, 2025
As you think ahead to your own move, you may have noticed some houses sell within days, while others linger.
Buyer
May 8, 2025
With all the uncertainty in the economy, the stock market has been bouncing around more than usual.
Buyer
May 6, 2025
Saving up to buy a home can feel a little intimidating, especially right now.
Seller
May 6, 2025
Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too.
Buyer
May 6, 2025
Buyer
May 5, 2025
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