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.”
Stay up to date on the latest real estate trends.
September 7, 2024
This week, our Tech Trends round-up features new tools designed to improve the flow of information within the real estate environment.
September 7, 2024
The number of homes actively for sale grew by 35.8% year-over-year in August, according to data from Realtor.com
September 6, 2024
Mortgage rates remained flat in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
September 6, 2024
Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.
September 5, 2024
Get there first.
September 5, 2024
Mortgage application activity ended August on the rise, according to data from the Mortgage Bankers Association (MBA) covering the week ending Aug. 30.
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