Rates did not stay above 3% very long according to the latest Freddie Mac weekly survey…(Freddie Mac)
- 30-YR FIXED: Fell 2 basis points to an average of 2.99% which is 12 basis points higher than the same time one year ago.
- 15-YR FIXED: Fell 5 basis points to an average of 2.23% which is also 14 basis points lower the same time one year ago.
Sam Khater, Freddie Mac’s Chief Economist says housing affordability is a growing problem even with lower rates…
- “Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”
REMEMBER: Mortgage Bankers Association reported a rate increase for the 30-YR fixed on Wednesday to 3.14%…Read More