Leave a Message

By providing Jackie Schoelerman your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Thank you for your message. We will be in touch with you shortly.

Mortgage Rates Drop Again

WRE News July 20, 2024

Buyer

Mortgage rates continued to decline in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).

The 30-year fixed-rate mortgage averaged 6.77% as of July 18, down from last week when it averaged 6.89%. A year ago at this time, it averaged 6.78%.

The 15-year fixed-rate mortgage averaged 6.05%, down from last week when it averaged 6.17%. A year ago at this time, it averaged 6.06%.

“The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,” said Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are headed in the right direction and the economy remains resilient, two positive incremental signs for the housing market. However, homebuyers have yet to respond to lower rates, as purchase application demand is still roughly 5% below Spring, when rates were approximately the same. This is not uncommon: sometimes as rates decline, demand weakens, and the apparent paradox is driven by buyers making sure rates don’t decline further before they decide to purchase.”

Recent Blog Posts

Stay up to date on the latest real estate trends.

What Everyone’s Getting Wrong About the Rise in New Home Inventory

August 29, 2025

You may have seen talk online that new home inventory is at its highest level since the crash.

"Design Experimentation" Was the Goal in This Eclectic Minneapolis Home

August 29, 2025

It’s not unusual for designers to use their own homes as a mad laboratory, fiddling with new materials, half-baked ideas, and “could this work?

Here’s how much you need to walk to see fitness gains, according to experts

August 28, 2025

It just happens that one of the most accessible and budget-friendly forms of exercise is also the most beneficial for your health: walking.

History Shows the Housing Market Always Recovers

August 28, 2025

Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market.

New Home Sales Down 0.6% in July

August 26, 2025

Sales of new single-family houses in July were at a seasonally adjusted annual rate of 652,000, according to estimates released jointly today by the US Census Bureau a… Read more

Should You Still Expect a Bidding War?

August 26, 2025

If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.

View All

We are Your GPS to Success Let’s Get Started

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

Schedule Appointment