Mortgage Rates Drop, But Remain Above 7% Mark
WRE News September 7, 2023
Buyer
WRE News September 7, 2023
Buyer
The 30-year fixed-rate mortgage averaged 7.12% as of Sept. 7, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is a decline from last week when it averaged 7.18%. A year ago at this time, it averaged 5.89%.
“For the fourth consecutive week, the 30-year fixed-rate mortgage hovered above 7%,” said Sam Khater, Freddie Mac’s chief economist. “The economy remains buoyant, which is encouraging for consumers. Though while inflation has decelerated, firmer economic data have put upward pressure on mortgage rates which, in the face of affordability challenges, are straining potential homebuyers.”
Freddie Mac also reported the 15-year fixed-rate mortgage averaged 6.52% as of Sept. 7, down from last week when it averaged 6.55%. A year ago at this time, it averaged 5.16%.
Stay up to date on the latest real estate trends.
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.
Seller
May 6, 2025
Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too.
Buyer
May 6, 2025
Buyer
May 5, 2025
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