Mortgage Rates Soar For Fifth Consecutive Week
WRE News May 4, 2024
Buyer
WRE News May 4, 2024
Buyer
Mortgage rates continues to soar in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 7.22% as of May 2, up from last week when it averaged 7.17%. A year ago at this time, it averaged 6.39%.
The 15-year fixed-rate mortgage averaged 6.47%, up from last week when it averaged 6.44%. A year ago at this time, it averaged 5.76%.
“The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of Spring Homebuying Season,” said Sam Khater, Freddie Mac’s chief economist. “On average, more than one-third of home sales for the entire year occur between March and June. With two months left of this historically busy period, potential homebuyers will likely not see relief from rising rates anytime soon. However, many seem to have acclimated to these higher rates, as demonstrated by the recently released pending home sales data coming in at the highest level in a year.”
Stay up to date on the latest real estate trends.
Buyer
November 7, 2025
There’s been a lot of talk lately about how a government shutdown impacts the housing market.
Buyer
November 6, 2025
If you’re looking for a great place to live, you might want to check out Utah.
Seller
November 6, 2025
If you’ve seen headlines about home prices dropping, it’s easy to wonder what that means for the value of your home too.
Buyer
November 5, 2025
Seller
November 4, 2025
If there was one simple step that could help make your home sale a seamless process, wouldn't you want to know about it?
Buyer
November 3, 2025
If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options.
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