The #1 Reason to List Your House in the WinterMany sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What
Mortgage Rates Are Back On The Rise
Borrowers were faced with rising mortgage rates again this week, after a slight pause from increases the week before.
“Despite volatility in the stock market, the 30-year fixed-rate mortgage inched forward just 1 basis point to 4.86 percent this week,” says Sam Khater, Freddie Mac’s chief economist. “We expect rates to continue to rise, which will put downward pressure on homebuying activity. While higher borrowing costs will keep some people out of the market, buyers with more flexibility could take advantage of the decreased competition.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 25, 2018:
30-year fixed-rate mortgages: averaged 4.86 percent, with an average 0.5 point, rising slightly from last week’s 4.85 percent average. Last year at this time, 30-year rates averaged 3.94 percent.
15-year fixed-rate mortgages: averaged 4.29 percent, with an average 0.4 point, rising from last week’s 4.26 percent average. A year ago, 15-year rates averaged 3.25 percent.
5-year hybrid adjustable-rate mortgages: averaged 4.14 percent, with an average 0.3 point, climbing from last week’s 4.10 percent average. A year ago, 5-year ARMs averaged 3.21 percent.
Source: Freddie Mac
Latest Blog Posts
Buying a home can be SCARY…Until you know the FACTS [INFOGRAPHIC]Some Highlights:Many potential homebuyers believe they need a 20% down payment and a 780 FICO® score to qualify to buy a home.
3 Reasons to Use a Real Estate Pro in a Complex Digital WorldIf you’re searching for a home online, you’re not alone; lots of people are doing it. The question is, are you using all of your