Homes prices and sales are expected to continue to rise next year, according to the 2021 California Housing Market Forecast recently released by the California Association of Realtors. While it is likely they will continue to increase, it should be at a more modest rate, the report noted. The problem remains lack of inventory. So …
Migration From Cities Continues
My Take: The two major trends impacting real estate continue. First, the 30-year fixed mortgage rate ticked down last week to 2.88 percent, again at historic lows. Mortgage rates that have stayed under 3 percent since July have given the housing market a strong upward trajectory during these uncertain times. Although Freddie Mac cautions that …
Real Estate Remains A Bright Spot In The Economy
Real estate remains a bright spot in the economy with mortgage rates dropping to another historic low yesterday–for the eighth time this year. Freddic Mac, the mortgage buyer, reported the 30-year fixed mortgage now stands at 2.88 percent while the 15-year fixed fell to 2.44 percent. These historically low rates have been driving purchase demand …
Mortgage Rates Tumble Below 3 Percent
Mortgage rates in the U.S. tumbled to historic lows in the week ended July 16, according to Freddie Mac. The rate on a 30-year fixed mortgage dropped to 2.98 percent, falling below the 3 percent level for the first time since record-keeping began in 1971. Meanwhile, the 15-year fixed mortgage rate slid to a fresh …
Mortgage Rates Again Fall To Historic Lows
For the third consecutive week 30-year mortgages have fallen to record lows as inflation remains muted in a weakened economy, even in the face of persistent demand from homebuyers. Freddie Mac, mortgage buyer, reported today that the average rate on the key 30-year fixed-rate mortgage declined to 3.03 percent, down from 3.07 percent last week …
Mortgage Rates Reach Historic Lows
The average rate on the 30-year home loan dropped to 3.15 percent from 3.24 percent last week, according to mortgage buyer Freddie Mac. This is the lowest level since Freddie Mac started tracking rates in 1971. A year ago the rate was 3.99 percent. The average rate on the 15-year fixed-rate mortgage declined to 2.62 …