Instant Reaction: Mortgage Rates, July 25, 2024
Facts: The 30-year fixed mortgage rate from Freddie Mac was nearly unchanged at 6.78% this week vs 6.77% last week. At 6.78%, with 20% down, a monthly mortgage payment on the median priced existing home of $426,900 is $2,222; with 10% down, it is $2,500. Positive: Also out today: GDP was stronger th
The Housing Affordability Index: Home Prices Surge and Rising Mortgage Rates Troubled Affordability in May 2024
According to NAR's Housing Affordability Index, housing affordability declined nationally in May compared to the previous month. The monthly mortgage payment increased by 3.9%, while the median price of single-family homes rose by 5.7% (from $401,500 to $424,500) year-over-year. The monthly mortgage
June 2024 Foot Traffic
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