Your Full Service Real Estate Agent:
Chuck Evans
May 2021
Real
Proudly Helping all My Buyers & Sellers


March Real Estate Roundup

Freddie Mac's results of its Primary Mortgage Market Survey® shows that "During the course of the pandemic, 'home' has become more important than ever. As a result, strong purchase demand continues—but buyers also outnumber the sellers. Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest."

• 30-year fixed-rate mortgage (FRM) averaged 3.17 percent with an average 0.7 points for the week ending March 25, 2021, up from last month when it averaged 2.97 percent. A year ago, at this time, the 30-year FRM averaged 3.5 percent.

• 15-year FRM this week averaged 2.45 percent with an average 0.6 points, up from last month when it averaged 2.34 percent. A year ago, at this time, the 15-year FRM averaged 2.92 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.84 percent this week with an average 0.2 points, down from last month when it averaged 2.99 percent. A year ago, at this time, the 5-year ARM averaged 3.34 percent.



Chuck Evans, Managing Broker
E-mail: chuckevanshomes@gmail.com
Website: http://www.chuckevanssellshomes.com
Cell: 757 404-1931
FIT Realty
Office: 757 528-8270
5350 Kemps River Drive, Suite 116
Virginia Beach, VA 23464


Equal Housing Opportunity

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