Hope you had a fantastic Labor Day! As we head into fall, we see that the housing market remains strong thanks to a growing economy and continued purchase demand. Home prices remain stable, but thankfully inventory is improving modestly. As for mortgage rates, the latest survey by Freddie Mac reports that average rates for both
Well, it looks like optimism in the markets, thanks to the strong jobs report, sent mortgage rates a little higher, according to last week’s survey published by Freddie Mac. Prior to this latest report, rates had been dropping for six consecutive weeks. Despite the minimal .10 percent rise in interest rate for the average 30-year
It’s been a little bit of a wild ride for rates over these past few days. Last week, before the jobs report was released, the survey of average rates showed the 30-year and 15-year dropping to levels not seen since early 2021. However, following Friday’s robust jobs report showing almost 1 million people returning to
Fortunately for home buyers, even as home prices continue to appreciate, mortgage rates are trending lower as the economy continues to mend despite concerns around the pandemic and its trajectory. According to the latest survey of mortgage rates by Freddie Mac, the average rates for both the 30-year and 15-year average dropped .10 percent just
Luckily for the summer home-buying frenzy, mortgage rates have continued to decline. In fact, according to Freddie Mac’s weekly survey of average rates, since their peak in April, mortgage rates have declined by .30 percent. Not bad! But how long will this last? It’s an interesting question because many market experts believe rates are remaining
I hope you had a nice, long holiday weekend and got to enjoy some summer fun and festivity! As we get the week rolling, markets continue to digest Friday’s Jobs Report where we saw a much more robust than expected number for new job creation. Payrolls rose 850,000 in June, above the consensus of 703,000.
We’ve watched as mortgage rates have remained rather steady over the past three weeks and according to Freddie Mac’s weekly survey, averages remained below 3 percent for the 30-year fixed. Friday’s job creation numbers dragged on markets showing a disappointing 266,000 new jobs created when a number much closer to 1 million was expected. Interestingly
Last week, mortgage rates remained rather steady. And according to the latest survey published by Freddie Mac, the average fixed rates remain below 3 percent, continuing to offer opportunities to refinance or purchase. However, there may be changes happening on the horizon that we need to be aware of. As we all know, inventory of homes remains a
Mortgage rates again improved slightly last week, although volatility this week could lead to rates bouncing around a bit. According to the weekly survey put out by Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by .04 percent. Keep in mind that rates on average are still about .25 percent lower
Despite inflation pressures showing up in the data last week, mortgage rates rode a healthy down-trend last week, according to Freddie Mac’s weekly rate survey of average rates. Sam Khater, chief economist explained it this way, “the economy is improving on the demand side and on the supply side, a variety of goods and materials
