Leave a Message

By providing Jackie Schoelerman your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Thank you for your message. We will be in touch with you shortly.

Mortgage Rates Soar For Fifth Consecutive Week

WRE News May 4, 2024

Buyer

Mortgage Rates Soar For Fifth Consecutive Week

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.”

Recent Blog Posts

Stay up to date on the latest real estate trends.

Is It Better To Rent or Buy a Home?

June 1, 2025

You’ve probably asked yourself lately: Is it even worth trying to buy a home right now?

What Paint Colors Will Rule 2026? Designers Make Their Predictions

June 1, 2025

Predicting color trends is a skill not everyone possesses.

13 Designer-Approved Stair Runner Ideas That Add INSTANT Character

May 31, 2025

Stair runners are the unsung heroes of interior design.

What Your Dishware Aesthetic REALLY Says About Your Personality

May 31, 2025

Everything you purchase for your home says something about you and your personal style, and we've found that to be especially true when it comes to your dishes.

3 benefits of antioxidant-packed tart cherry juice, according to science

May 30, 2025

Sitting on grocery store shelves among all of the different varieties of fruit juice is an unassuming nutritional powerhouse: tart cherry juice.

The BEST Way To Light Your Kitchen Is Not What You Think

May 30, 2025

Walk into any stunning kitchen, and odds are, the finishes get all the praise.

View All

We are Your GPS to Success Let’s Get Started

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

Schedule Appointment