Instant Reaction: Mortgage Rates, May 30, 2024
Facts: The 30-year fixed mortgage rate from Freddie Mac rose to 7.03% over the last week from 6.94%. At 7.03%, with 20% down, a mortgage payment on the median-priced existing home of $407,600 is $2,176. The typical first-time buyer had a downpayment of 8% last year—with this downpayment, the monthly
Pending Home Sales Slumped 7.7% in April
Key Highlights Pending home sales decreased 7.7% in April. Contract signings retreated in all regions compared to the previous month and one year ago. The Midwest and West experienced the largest monthly declines. " data-src="https://www.nar.realtor/sites/default/files/styles/inline_paragraph_image/
Instant Reaction: Mortgage Rates, May 23, 2024
Facts: The 30-year fixed mortgage rate from Freddie Mac averaged 6.94% over the last week. At this rate, with 20% down, a mortgage payment on the median-priced $433,500 new home is $2,293, and $407,600 on an existing home is $2,156. Positive: Mortgage rates eased and are now below 7%. This helps buy
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