The federal director of the Federal Housing Finance Agency, Bill Pulte, explains how President Donald Trump is once again making the affordable property on “earning money”.
Mortgage rate Fellotumé for the second consecutive week, Mortgage Buyer Freddie Mac said on Thursday.
Freddie Mac’s latest survey on the primary mortgage market, published Thursday, has shown that the average mortgage rate fixed at 30 years of reference fell to 6.76% compared to the reading of 6.81% last week.
The average rate on a 30 -year loan was 7.22% a year ago.
“In the past few weeks, rates for the 30 -year fixed rate mortgage has dropped even lower than the first quarter of 6.83%,” said Sam Khater, chief economist from Freddie Mac.
Does the American housing market become a market suitable for buyers?
The average rate on the fixed mortgage at 15 years has dropped slightly at 5.92% compared to last week reading 5.94%. A year ago, the rate on the fixed note at 15 years was on average 6.47%.
These states were MVPs in the housing market, according to Realtor.com
The Americans were faced with an accessibility crisis and problems of supply on the housing market for years, which makes it difficult for new house buyers to enter the market.
“America is in a blockage state in terms of housing transactions where we have really been, for two years, we have reached 30 years”, ” Realtor.com CEO, Damian Eales, said During a recent appearance “Mornings with Maria”. “It is largely due to high interest rates. Most American mortgages – in fact, 70%of American mortgages – are less than 5%, so the rates in force are closer to 6.8%, perhaps even increased shortly. Sellers are very reluctant to sell because they will have to refinance at a much higher cost.”
There is a supply difference of 3.8 million houses, according to a Realtor.com report Released in March.
Click here to get FOX business on the go
Eales said Realtor.com was “optimistic that all the parties in the moving in the economy will be set up so that there can be mortgage rates”.
Aislinn Murphy de Fox Business contributed to this report.
