The CEO of Redfin Glenn Kelman unpacking the state of the housing market on the “Round Table de Barron”.
Mortgage rates have dropped for a seventh consecutive week at the lowest level since December, Mortgage buyer Freddie Mac said Thursday.
The latest Freddie Mac primary mortgage survey, published Thursday, has shown that the average mortgage rate fixed to 30 years of reference decreased to 6.63% compared to the reading of 6.76% of last week. The average rate on a 30 -year loan was 6.88% a year ago.
The 30-year loan has experienced the biggest weekly decline since mid-September, said Sam Khater, Freddie Mac Chief economist.
A “for sale” sign in a house in Philadelphia on August 16, 2024. (Joe Lamberti / Bloomberg via Getty Images / Getty Images)
Mortgage rates fall to the lowest level in more than 2 months
“The drop in rates increases the purchasing power of buyers of potential houses and should allow a strong incentive to take a step,” said Khater. “In addition, this drop in rates already offers some existing owners the possibility of refinance. In fact, the share of refinancing mortgage requests from the market published this week has reached almost 44%, the highest since mid-December.”
Sales of houses waiting for the United States fall to record the bottom in January
The 30-year loan has experienced the biggest weekly decrease since mid-September, said Sam Khater, chief economist of Freddie Mac. (Steve Pfost / Newsday RM via Getty Images / Getty Images)
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The average mortgage rate fixed at 15 years fell to 5.79% against 5.94% last week. A year ago, the rate on the Fixed note of 15 years On average 6.22%.
