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.
Lifestyle
July 30, 2025
We have all heard about and perhaps envied the current crop of billionaire business founders, including Elon Musk, Jeff Bezos, and Bill Gates, who seem to have it all … Read more
Buyer
July 30, 2025
With all the headlines circulating recently, you may be wondering what’s next for home prices?
Buyer
July 29, 2025
Depending on where you live, the housing market could feel red-hot or strangely quiet right now.
Buyer
July 29, 2025
If you’ve been watching the market, you’ve likely noticed a few changes already this year.
Buyer
July 27, 2025
The flow between the sink, stove, and refrigerator—what designers often call the kitchen triangle—was compromised by the original two-island plan.
Buyer
July 27, 2025
Home sales could fall to a new three-decade low in 2025 as elevated mortgage rates continue to crimp affordability, according to new projections from the Realtor.com® … Read more
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