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Little Change from Last Week in Mortgage Interest Rates

There’s been little change this week in mortgage interest rates. Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent. “Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, […]
All, Buying, Selling

How Does the Economy Impact Mortgage Rates?

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control […]
All, Buying, Selling

Newly Built Home May Be More Budget-Friendly

If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. […]
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How Affordability and Remote Work Are Changing Where People Live

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it. Consider Moving to a More Affordable Area Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested […]

All Little Change from Last Week in Mortgage Interest Rates There’s been little change this week in mortgage interest rates. Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent. “Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, […]

All How Does the Economy Impact Mortgage Rates? As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control […]

All Newly Built Home May Be More Budget-Friendly If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. […]

All How Affordability and Remote Work Are Changing Where People Live There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it. Consider Moving to a More Affordable Area Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested […]

All Why Working with a Real Estate Professional Is Crucial Right Now Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with a real estate expert can offer insights and advice that make all the difference. While today’s market conditions might seem confusing or overwhelming, you don’t have […]

All Cooling? Mortgage Interest Rates Tick Down (July 11, 2024 ) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.89 percent. “Following June’s jobs report, which showed a cooling labor market, the 10-year Treasury yield decreased this week and mortgage rates followed suit,” said Sam Khater, Freddie Mac’s Chief Economist. “We’re also seeing […]

All An Uptick This Week In Mortgage Rates Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.95 percent. This week’s results include an adjustment for the observance of Independence Day. “Mortgage rates increased this week, coming in just under seven percent,” said Sam Khater, Freddie Mac’s Chief Economist. “Both new home and […]

All $28K in Equity Gained over the Past Year Homeowners Gained $28K in Equity over the Past Year If you own a home, your net worth has probably gone up a lot over the past year. Home prices have been rising, which means you’re building equity much faster than you might think. Here’s how it works. Equity is the current value of your home minus what […]

All Real Estate Still Holds the Title of Best Long-Term Investment With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here’s some information that could help put your mind at ease by showing that investing in a home is still a powerful decision. According to the experts […]

All Down Trend Continued This Week Freddie Mac today (06-27-2024) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.86 percent. “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good shape, and […]

All Preparing for the Second Half As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales. Home Prices Are Expected To Climb Moderately Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry: […]

All Mortgage Interest Rates Average Down June 20, 2024, Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.87 percent. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” said Sam Khater, Freddie Mac’s Chief Economist. “These lower […]

All Why a Vacation Home Is the Ultimate Summer Upgrade Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if owning your own vacation home is right for you. An Ameriprise Financial survey sheds light on […]

All How Do Elections Impact the Housing Market? The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market. It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans. Historically, Presidential […]

All Mortgage Interest Rate Averages Down for the Week (June 13, 2024) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.95 percent. “Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” said Sam Khater, Freddie Mac’s Chief Economist. “Top-line inflation […]

All Savings Strategies Every First-Time Homebuyer Needs To Know If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more. Here are a few strategies that can help speed up that process. Budget and Track Your Expenses: To start, create a […]

All Top Reasons To Own a Home Some Highlights Buying a home has powerful financial and non-financial benefits. It creates more stability, helps grow your net worth, and gives you an undeniable sense of pride. While today’s market can be challenging for buyers, use these reasons to remind you of why homeownership is so worthwhile. When you’re ready to enjoy all the amazing advantages […]

All 30-Year Fixed Rate Mortgage Average Interest Ticks above 7% Freddie Mac (OTCQB: FMCC) today (May 30, 2024) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.03 percent. “Following several weeks of decline, mortgage rates changed course this week,” said Sam Khater, Freddie Mac’s Chief Economist. “More hawkish commentary about inflation and tepid demand for longer-dated Treasury […]

All How an Agent Helps Market Your House You’re ready to sell your house. But what do you need most from your real estate agent? Well, the National Association of Realtors (NAR) asked that very question to recent sellers and found one of the top things they were looking for is help marketing their house to potential buyers. Maybe that’s what you need the most help […]

All How Do Climate Risks Affect Your Next Home? Climate change is impacting where people buy homes. As the experts at the National Association of Realtors (NAR) explain: “Sixty-three percent of people who have moved since the pandemic began say they believe climate change is—or will be—an issue in the place they currently live.” If you’re planning to move, climate change is something you might want to consider, no […]

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