Redfin Executive Director Glenn Kelman unpacked the situation on the market market at the “Barron Round Table”.
Hypotics rates have fallen on the seventh consecutive week to the lowest level since December, Freddie Mac mortgage buyer said on Thursday.
The latest research of the primary market of the MAC Mac Hydrogen Market, announced on Thursday, found that the average rate on a reference 30-year fixed mortgage decreased to 6.63% compared to last week’s reading of 6.76%. The average rate on a 30-year loan was 6.88% a year ago.
The 30-year loan recorded the biggest weekly fall since mid-September, said Khater, Freddie Mac’s Main economist.
Sign “For sale” at a house in Philadelphia on August 16, 2024. (Joe Lamberti / Bloomberg via Getty Images / Getty Images)
Hypotics rates fall to the lowest level in more than 2 months
“The fall rate increases the purchasing power of potential customers and should provide a strong impetus to move,” Khater said. “In addition, this fall rate already provides some existing homeowners with the possibility of refinancation. In fact, a refinantive share on market mortgage reports has been published this week has reached almost 44%, which has been the highest since mid -December.”
Now waiting for the sale of houses falling into a record low in January
The 30-year loan had had the biggest weekly fall since mid-September, said Khater himself, the chief economist of Freddie Mac. (Steve Pfost / Newsday RM via Getty Images / Getty Images)
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The average rate on a 15-year fixed mortgage dropped to 5.79% from 5.94% last week. A year ago, rate on 15-year-old fixed note an average of 6.22%.
