Mortgage Rates Up Sharply
WRE NEWS October 12, 2024
Buyer
WRE NEWS October 12, 2024
Buyer
Mortgage rates soared in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.32% as of Oct. 10, up from last week when it averaged 6.12%. A year ago at this time, it averaged 7.57%.
The 15-year fixed-rate mortgage averaged 5.41%, up from last week when it averaged 5.25%.A year ago at this time, it averaged 6.89%.
“Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April,” said Sam Khater, Freddie Mac’s chief economist. “However, we should remember that the rise in rates is largely due to shifts in expectations and not the underlying economy, which has been strong for most of the year. Although higher rates make affordability more challenging, it shows the economic strength that should continue to support the recovery of the housing market.”
Stay up to date on the latest real estate trends.
Buyer
April 22, 2025
Mortgage applications for new home purchases during March was up 5.5% year-over-year and up 14% month-over-month, according to data from the Mortgage Bankers Associati… Read more
Lifestyle
April 22, 2025
It’s official: Traditional turf lawns are getting a botanical makeover, and red creeping thyme (Thymus serpyllum 'Coccineus') is leading the trend.
Buyer
April 22, 2025
According to Realtor.com, the best week to list your house this year was April 13–19.
Buyer
April 21, 2025
If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can m… Read more
Lifestyle
April 21, 2025
With all the bad news about how technology affects the brains of kids and teens—as it’s associated with higher rates of depression, anxiety, cognitive delays, insomnia… Read more
Seller
April 21, 2025
Unfortunately, a lot of sellers today are setting their asking price too high.
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