WRE News October 30, 2023
Buyer
The 30-year fixed-rate mortgage continued its ascent to the dreaded 8% level in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 7.79% as of Oct. 26, up from last week when it averaged 7.63%. A year ago at this time, it averaged 7.08%.
The 15-year fixed-rate mortgage averaged 7.03%, up from last week when it averaged 6.92%.A year ago at this time, it averaged 6.36 percent.
“For the seventh week in a row, mortgage rates continued to climb toward eight percent, resulting in the longest consecutive rise since the Spring of 2022,” said Sam Khater, Freddie Mac’s chief economist. “Rates have risen two full percentage points in 2023 alone and, as we head into Halloween, the impacts may scare potential homebuyers. Purchase activity has slowed to a virtual standstill, affordability remains a significant hurdle for many and the only way to address it is lower rates and greater inventory.”
Stay up to date on the latest real estate trends.
Buyer
May 10, 2025
A new data report from ATTOM has found 46.2% of mortgaged residential properties were considered equity-rich in the first quarter, down from 47.7% in the fourth quarte… Read more
Buyer
May 10, 2025
From rising home prices to mortgage rate swings, the housing market has left a lot of people wondering what’s next – and whether now is really the right time to move.
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.
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