WRE News September 1, 2023
Buyer
Mortgage rates recorded a decline but still remained above the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 7.18% as of Aug. 31, down from last week when it averaged 7.23%. A year ago at this time, it averaged 5.66%.
The 15-year fixed-rate mortgage averaged 6.55%, unchanged from last week. A year ago at this time, it averaged 4.98%.
“Mortgage rates leveled off this week but remain elevated. Despite continued high rates, low inventory is keeping house prices steady,” said Sam Khater, Freddie Mac’s chief economist. “Recent volatility makes it difficult to forecast where rates will go next, but we should have a better gauge in September as the Federal Reserve determines their next steps regarding interest rate hikes.”
Stay up to date on the latest real estate trends.
October 30, 2024
Distraction happens to everyone, but lately it can feel impossible to stay focused.
October 30, 2024
The internet offers kids valuable knowledge and fun but also comes with risks like inappropriate content, cyberbullying, and online predators.
October 30, 2024
Read the label on a bottle of beet root capsules, and you might see promises of improved athletic performance, blood pressure, and function of your digestive and immun… Read more
October 30, 2024
With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market.
October 30, 2024
October 29, 2024
Total mortgage origination volume is expected to increase to $2.3 trillion in 2025 from the $1.79 trillion expected in 2024, according to a forecast from the Mortgage … Read more
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