WRE News January 13, 2024
Buyer
Mortgage rates remained at the mid-6% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, slightly up from last week when it averaged 6.62%. A year ago at this time, it averaged 6.33%.
The 15-year fixed-rate mortgage averaged 5.87%, down from last week when it averaged 5.89%. A year ago at this time, it averaged 5.52%.
“Mortgage rates have not moved materially over the last three weeks and remain in the mid-6% range, which has marginally increased homebuyer demand,” said Sam Khater, Freddie Mac’s chief economist. “Even this slight uptick in demand, combined with inventory that remains tight, continues to cause prices to rise faster than incomes, meaning affordability remains a major headwind for buyers. Potential homebuyers should look closely at existing state and local resources, such as down payment assistance programs, which can considerably help defray closing costs.”
Stay up to date on the latest real estate trends.
January 15, 2025
January 14, 2025
We’re officially in the winter stretch, and in many parts of the country, temperatures have plunged—leaving many homeowners struggling with how to beat the chill.
January 14, 2025
A cup of coffee is the quintessential staple of a morning routine—at least in the U.S.
January 14, 2025
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner?
January 13, 2025
As harrowing and out-of-touch as show business can be, celebrities’ most-relatable sides are exposed in the bonds they share with their pets.
January 13, 2025
Ferguson Partners, the Chicago-based talent management and strategic advisory firm for the real estate sector, announced the results of its first Artificial Intelligen… 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