February Real Estate Roundup

Written by Realty Times Staff Posted On Tuesday, 27 February 2024 14:36

Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Strong incoming economic and inflation data has caused the market to re-evaluate the path of monetary policy, leading to higher mortgage rates. Historically, the combination of a vibrant economy and modestly higher rates did not meaningfully impact the housing market. The current cycle is different than historical norms, as housing affordability is so low that good economic news equates to bad news for homebuyers, who are sensitive to even minor shifts in affordability."

• 30-year fixed-rate mortgage (FRM) averaged 6.9 percent for the week ending February 22, 2024, up from last month when it averaged 6.69 percent. A year ago, at this time, the 30-year FRM averaged 6.50 percent.

• 15-year FRM this week averaged 6.29 percent, up from last month when it averaged 5.17 percent. A year ago, at this time, the 15-year FRM averaged 5.76 percent.

Rate this item
(0 votes)

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.