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.
Lifestyle
May 9, 2025
Design thinking is an iterative problem-solving framework that puts users’ needs at the center of every tech solution.
Lifestyle
May 9, 2025
Growing your own culinary herbs, such as mint, rosemary, or thyme, is an excellent way to enhance your home-cooked meals while also honing your gardening skills.
Buyer
May 9, 2025
Mortgage application activity picked up with new gusto for the week ending May 2, according to data from the Mortgage Bankers Association (MBA).
Seller
May 8, 2025
As you think ahead to your own move, you may have noticed some houses sell within days, while others linger.
Buyer
May 8, 2025
With all the uncertainty in the economy, the stock market has been bouncing around more than usual.
Buyer
May 6, 2025
Saving up to buy a home can feel a little intimidating, especially right now.
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