The latest Freddie Mac index measured the 30-year fixed mortgage rate at 6.09% on Thursday, down four basis points from the previous week.
I want to showcase how this issue, which focuses on the future of housing, tries to explain what next year will look like.
This is the fifth consecutive month of of month-over-month declines, and pending home sales have now fallen in 11 of the last 12 months.
Slower-than-expected inflation rate is good news for the housing market, which has suffered greatly from the affects of rate hikes.
Despite a recent decline in mortgage rates, the housing market is still nowhere near normal and volume will remain low for the foreseeable future.
Lower mortgage rates, higher inventory increase mortgage demand HousingWire
A recent drop in mortgage rates and the uptick in home inventory has led to optimism in the air for the mortgage industry.
In this week’s Housing Market Tracker, Lead Analyst Logan Mohtashami shows how total inventory could break under 1 million.
The average mortgage rate for a 30-year fixed loan is now just 3 basis points away from 3%, after a 16 basis point jump according to Freddie Mac.
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