For Week Ending October 12, 2024 According to the Mortgage Bankers Association, the median mortgage application payment was $2,057 in August, down from $2,140 in July, marking the fourth consecutive month affordability conditions improved. Mortgage rates are down significantly from … Continue reading
October 17, 2024 The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%. In general, higher rates reflect the strength in the economy that is supportive of the housing market. But notably, as compared to a … Continue reading
Affordability inches up alongside inventory while sales stabilize Statewide, signed purchase agreements were down 0.5% and new listings were up 4.4% The median sales price increased 6.1% to $350,000 Market times rose 18.2% to 39 days and inventory was up … Continue reading
For Week Ending October 5, 2024 According to the National Association of REALTORS® 2023 Profile of Home Buyers and Sellers, buyers moved a median distance of 20 miles to their new home last year, down from 50 miles the year … Continue reading
October 10, 2024 Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April. However, the rise in rates is largely due to shifts in expectations and not the underlying … Continue reading
For Week Ending September 28, 2024 The average rate on a 30-year fixed mortgage dropped to 6.08% the week ending September 26, 2024, the lowest level in two years, according to Freddie Mac. Rates have fallen one and a half … Continue reading
