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.
Seller
December 23, 2025
Hearing talk about home prices falling? That may leave you worried about whether your house is losing value.
Seller
December 19, 2025
The housing market hasn’t felt this energized in a long time – and the numbers backing that up are hard to ignore.
Buyer
December 18, 2025
You may not want to put your homebuying plans into hibernation mode this winter.
December 18, 2025
Buyer
December 16, 2025
One of the biggest homebuying advantages you can give yourself today is surprisingly simple: a flexible wish list.
Seller
December 12, 2025
A lot of people are asking the same thing right now: “Is it even a good time to sell?” And the truth may come as a bit of a surprise...
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