Rates
Instant Reaction: Mortgage Rates, February 1, 2024
Mortgage interest rates ticked down slightly this week to 6.63% from 6.69% the previous week, down considerably from October 2023. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, December 14, 2023
The Fed indicated yesterday that they will hold the Fed Funds Rate steady for now and cut rates three times in 2024; NAR forecasts that mortgage interest rates will average 6.3% in 2024. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, November 30, 2023
Mortgage interest rates dropped again to 7.22% from 7.29% last week; the drop from the October peak of 7.79% translates into a $ 125-a-month savings on a $ 400,000 mortgage. www.nar.realtor – Research
NAR Chief Economist Says Commercial Real Estate Will Revitalize, Calls on Federal Reserve to Consider Cutting Interest Rates
There’s tremendous difficulty in the commercial real estate market, with higher interest rates hindering borrowing and making refinancing costly. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, November 16, 2023
The three-week drop in mortgage rates is a steady sign that they have likely hit a peak and are headed down. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, October 5, 2023
The 30-year fixed mortgage interest rate now sits at 7.49% as of October 5, 2023, up from 7.31% last week. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, September 07, 2023
Mortgage interest rates eased this week from 7.18% to 7.12%. Although this is the fourth week above 7%, demand is still active in the housing market despite higher rates. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, August 17, 2023
Mortgage interest rates are now officially above 7%, hitting 7.09% this week, up from 6.96% the prior week, and is the highest rate in more than 20 years. www.nar.realtor – Research
Higher Home Prices and Mortgage Rates Made It Difficult for Home Buyers to Qualify in May 2023
With a monthly mortgage payment increase of 3.7% and a 2.8% rise in the median price of single-family homes, qualifying for a home loan was more challenging for potential buyers in May 2023. www.nar.realtor – Research