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February Real Estate Roundup
Freddie Mac's results of its Primary Mortgage Market Survey® shows that "The economy continues to show strength, and interest rates are repricing to account for the stronger than expected growth, tight labor market and the threat of sticky inflation. Our research shows that rate dispersion increases as mortgage rates trend up. This means homebuyers can potentially save $600 to $1,200 annually by taking the time to shop among lenders to find a better rate."
• 30-year fixed-rate mortgage (FRM) averaged 6.5 percent for the week ending February 23, 2023, up from last month when it averaged 6.13 percent. A year ago, at this time, the 30-year FRM averaged 3.89 percent.
• 15-year FRM this week averaged 5.76 percent, up from last month when it averaged 5.17 percent. A year ago, at this time, the 15-year FRM averaged 3.14 percent.
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