Real estate CEO 21 Mike Miedler discusses the influence of the mortgage rate on the market market, claiming that accessibility is still the biggest problem.
Hypotics rates have fallen six consecutive week to the lowest level in more than two months, Freddie Mac mortgage buyer said on Thursday.
The latest research of the primary market of the Hypotarcan Market Freddie Mac, published on Thursday, showed that the average rate on a reference 30-year fixed mortgage has decreased to 6.76% compared to 6.85% last week. The average rate at the 30-year loan was 6.94% a year ago.
“The fall of the mortgage rate, combined with modestly improvement of supplies, encouraging a sign for consumers on the market to buy a house,” said Khater himself, chief economist Freddie Mac.
The mortgage rates have fallen for the sixth consecutive week to the lowest level in more than two months. (Steve Pfost/Newsday RM via Getty Images)
Hypotics rates fall for the fifth week in a row, hover close to 7%
The average rate on a 15-year fixed mortgage dropped to 5.94% from 6.04% last week. A year ago, rate on 15-year-old fixed note average 6.26%.
Now waiting for the sale of houses falling into a record low in January
The rates of the range ranged from 6.91% to 7.04% in January, and the National Real Estate Association (NAR) said that compared to a year ago, a monthly payment of a 300,000 USD House has increased for an additional $ 50 to $ 1,590.
The “sell” sign is seen outside the recently purchased house in Washington. (Reuters/Sarah Silbiger/File Photo/Reuters Photos)
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Nar reported on Thursday that it Waiting for a house sales index It dropped to the lowest level at a record level in January due to double impact of high mortgage rates and high home prices. The house sale was reduced by 5.2% compared to a year ago.
“It is unclear if the coldest January has contributed to the market in 25 years, and if so, expect more sales activity in the coming months,” said the main economist Nar Lawrence Yun. “However, it is obvious that elevated home prices and greater mortgages have strained their accessibility.”
Fox Business’ Eric Revell contributed to this report.
