WRE News October 14, 2023
Buyer
The 30-year fixed-rate mortgage surged higher, averaging 7.57% as of Oct. 12, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). Last week, it averaged 7.49%, and a year ago at this time it averages 6.92%.
“For the fifth consecutive week, mortgage rates rose as ongoing market and geopolitical uncertainty continues to increase,” said Sam Khater, Freddie Mac’s chief economist. “The good news is that the economy and incomes continue to grow at a solid pace, but the housing market remains fraught with significant affordability constraints. As a result, purchase demand remains at a three-decade low.”
Freddie Mac also reported the 15-year fixed-rate mortgage averaged 6.89%, up from last week when it averaged 6.78%. A year ago at this time, it averaged 6.09%.
Stay up to date on the latest real estate trends.
September 7, 2024
This week, our Tech Trends round-up features new tools designed to improve the flow of information within the real estate environment.
September 7, 2024
The number of homes actively for sale grew by 35.8% year-over-year in August, according to data from Realtor.com
September 6, 2024
Mortgage rates remained flat in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
September 6, 2024
Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.
September 5, 2024
Get there first.
September 5, 2024
Mortgage application activity ended August on the rise, according to data from the Mortgage Bankers Association (MBA) covering the week ending Aug. 30.
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