Mortgage Rates Down For First Time In Five Weeks
WRE News May 11, 2024
Buyer
WRE News May 11, 2024
Buyer
Mortgage rates were in decline for the first time since March, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 7.09% as of May 9, down from last week when it averaged 7.22%. A year ago at this time, it averaged 6.35%.
The 15-year fixed-rate mortgage averaged 6.38%, down from last week when it averaged 6.47%. A year ago at this time, it averaged 5.75%.
“After a five week climb, mortgage rates ticked down following a weaker than expected jobs report,” said Sam Khater, Freddie Mac’s chief economist. “An environment where rates continue to hover above seven percent impacts both sellers and buyers. Many potential sellers remain hesitant to list their home and part with lower mortgage rates from years prior, adversely impacting supply and keeping house prices elevated. These elevated house prices add to the overall affordability challenges that potential buyers face in this high-rate environment.”
Stay up to date on the latest real estate trends.
Seller
March 11, 2025
Buyer
March 11, 2025
Seller
March 9, 2025
When you bought your second home you likely had a vision for it.
Lifestyle
March 9, 2025
For Harry King, an 82-year-old personal trainer, it was an arthritis diagnosis that inspired his fitness journey.
Seller
March 9, 2025
Home staging might seem counterintuitive at first blush: Why spend money on real estate if you're moving out?
Lifestyle
March 8, 2025
When Anne Poirier was 45, she went to battle with her body: restricting what she ate, and exercising for up to five hours a day.
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