WRE News July 8, 2024
Buyer
Mortgage rates flirted with the 7% level again in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.95% as of July 3, up from last week when it averaged 6.86%. A year ago at this time, it averaged 6.81%.
The 15-year fixed-rate mortgage averaged 6.25%, up from last week when it averaged 6.16%. A year ago at this time, it averaged 6.24%.
This week’s results included an adjustment for the observance of Independence Day.
“Mortgage rates increased this week, coming in just under 7%,” said Sam Khater, Freddie Mac’s chief economist. “Both new home and pending home sales are down, causing active listings to rise. We are still expecting rates to moderately decrease in the second half of the year and given additional inventory, price growth should temper, boding well for interested homebuyers.”
Stay up to date on the latest real estate trends.
October 23, 2024
October 22, 2024
From war to terrorism to civil unrest, the world is facing turmoil on many fronts.
October 22, 2024
Americans are still renovating up a storm—although not as much as they did during the COVID-19 pandemic.
October 22, 2024
Curious about where the housing market is headed in 2025?
October 21, 2024
No act is more intimate than eating.
October 21, 2024
You’ve probably heard of HIIT—high-intensity interval training.
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