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.
Seller
September 18, 2025
Mortgage rates are finally heading in the right direction – and buyers are starting to jump back in.
Buyer
September 18, 2025
Lifestyle
September 17, 2025
If fall gives you the urge to deck your halls with piles of pumpkins, but your to-do list leaves little time for decorating (let alone creating extravagant autumnal di… Read more
Seller
September 16, 2025
Let’s be real.
Buyer
September 16, 2025
The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate.
Buyer
September 13, 2025
The national median home price inched up by 2.4% year-over-year in August to $389,000, according to a data report from the Costar Group (NASDAQ: CSGP) brand Homes.com.
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