Rates
Instant Reaction: Mortgage Rates, April 20, 2023
After declining for 5 consecutive weeks, the average rate on a 30-year fixed mortgage rose to 6.39% from 6.27% the previous week. www.nar.realtor – Research
Office Vacancy Rates in 2022
For the past four years, we have seen a steady decline in the demand for office spaces, aggravated by Covid-19, and this trend is ongoing. Overall, the office vacancy rate has risen by 3% since 2019. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, February 16, 2023
The average rate on a 30-year fixed mortgage ticked up to 6.32% from 6.12%. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, December 22, 2022
The 30-year fixed mortgage rate decreased to 6.27% from 7.08% six weeks ago. As a result, homeownership has become nearly 10% more affordable in the last six weeks as the monthly mortgage payment decreased to $ 2,140 for the median-priced home. www.nar.realtor – Research
Builder Confidence Plunges on Rising Interest Rates, Growing Affordability Woes
In a sign that the housing market is now slowing, builder confidence took a steep drop in May, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), released this week. Builder confidence in the market for newly built single-family homes fell eight points to 69 in May, and this… […]
NAR’s Lawrence Yun Predicts US Home Prices Won’t Experience Major Decline, Could Possibly Rise Slightly in 2023 if Mortgage Rates Remain at 7%
Yun Predicts US Home Prices Won’t See Major Decline Inflation, elevated mortgage rates, and limited housing inventory will prevent large home price drops for most of the U.S. in 2023. Media Contact: Troy Green 202-383-1042 Residential Real Estate
Mortgage Rates Exceed 6% for the First Time Since 2008
On the rise since the beginning of the year, mortgage rates continued their upward trajectory this week, rising above 6% for the first time since 2008. The 30-year fixed-rate mortgage (FRM) averaged 6.02% this week, up from 5.89% last week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac. Key findings: 30-year… […]
10 Ways to Calm Jittery Clients Over Rising Mortgage Rates
The Big Six-Oh can mean different things to different people. For most it’s that they’ve reached the age of 60, with much more of their lives behind them than ahead. For younger folks these days, particularly those looking to buy homes, the Big Six-Oh probably refers to the latest 6.0 30-year fixed mortgage rate percent… […]
Housing Affordability Conditions Fade as Mortgage Rates Push Monthly Payments Higher in June 2022
The monthly mortgage payment increased by 5.3% in June 2022, compared to the prior month, while the median family income increased by 1.4%. www.nar.realtor – Research
Instant Reaction: Mortgage Rates, June 30, 2022
The 30-year fixed mortgage rate dropped to 5.7% from 5.81% the previous week. Although rates are significantly higher than last year, they are still historically low, remaining below 6%. www.nar.realtor – Research