Mortgage Rates Drop Below 7%
WRE News May 24, 2024
Buyer
WRE News May 24, 2024
Buyer
The 30-year fixed-rate mortgage dropped below the 7% mark, averaging 6.94% as of May 23, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). A year ago at this time, it averaged 6.57%.
“Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the 7% threshold for the first time in over a month,” said Sam Khater, Freddie Mac’s chief economist. “Although this week’s data on previously owned home sales showed a decline, total inventory of both new and existing homes is up. Greater supply coupled with the recent downward trend in rates is an encouraging sign for the housing market.”
Stay up to date on the latest real estate trends.
Lifestyle
May 9, 2025
Design thinking is an iterative problem-solving framework that puts users’ needs at the center of every tech solution.
Lifestyle
May 9, 2025
Growing your own culinary herbs, such as mint, rosemary, or thyme, is an excellent way to enhance your home-cooked meals while also honing your gardening skills.
Buyer
May 9, 2025
Mortgage application activity picked up with new gusto for the week ending May 2, according to data from the Mortgage Bankers Association (MBA).
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.
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