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.
Seller
June 17, 2025
Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered.
Buyer
June 17, 2025
Home inspections may seem like yet another barrier standing between you and your dream home, but skipping the step can have major consequences.
Buyer
June 16, 2025
Rising home prices and mortgage rates are putting dreams of homeownership out of reach for many.
Buyer
June 16, 2025
Have you been holding off on downsizing?
Seller
June 15, 2025
When your house doesn’t sell, it doesn’t just feel frustrating – it feels personal.
Buyer
June 15, 2025
Real estate investors accounted for 10.8% of home sellers in 2024, a record high level, according to a new data report from Realtor.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