Existing Home Sales
Mortgage Rates Continue to Fall
March 6, 2025
As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September. The decline in rates increases prospective homebuyers’ purchasing power and should provide a strong incentive to make a move. Additionally, this decline in rates is already providing some existing homeowners the opportunity to refinance. In fact, the refinance share of market mortgage applications released this week reached nearly 44%, the highest since mid-December.
Information provided by Freddie Mac.
Mortgage Rates Continue to Drop
February 27, 2024
This week, mortgage rates decreased to their lowest level in over two months. The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home.
Information provided by Freddie Mac.
Existing Home Sales
January Monthly Skinny Video
Mortgage Rates Trend Down
February 20, 2024
Mortgage rates decreased slightly this week. The 30-year fixed-rate mortgage has stayed just under 7% for five consecutive weeks and in that time has fluctuated less than 20 basis points. This stability continues to bode well for potential buyers and sellers as the spring homebuying season approaches.
Information provided by Freddie Mac.
The 30-Year Fixed-Rate Mortgage Continues to Decrease
February 13, 2024
The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025. Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.
Information provided by Freddie Mac.
Mortgage Rates Decrease
February 6, 2024
The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%. Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what was seen a year ago, indicating some latent demand in the market.
Information provided by Freddie Mac.
Mortgage Rates Show Little Movement
January 30, 2024
The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.
Information provided by Freddie Mac.
Existing Home Sales
