Mortgage Rates Move Down 11/9/2023

“As Treasury yields decline, the 30-year fixed-rate mortgage dropped a quarter of a percent, the largest one-week decrease since last November,” said Sam Khater, Freddie Mac’s Chief Economist. “Incoming data show that household debt continues to rise, primarily due to mortgage, credit card and student loan balances. Many consumers are feeling strained by the high cost of living, so unless mortgage rates decrease significantly, the housing market will remain stagnant.”

News Facts

• The 30-year fixed-rate mortgage averaged 7.5 percent as of November 9, 2023, down from last week when it averaged 7.76 percent. A year ago at this time, the 30-year FRM averaged 7.08 percent.
• The 15-year fixed-rate mortgage averaged 6.81 percent, down from last week when it averaged 7.03 percent. A year ago at this time, the 15-year FRM averaged 6.38 percent.

Houses that are priced, presented & marketed correctly are selling fast.

Let my 32+ years of Real Estate experience in Las Vegas work for you. 702-378-7055

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.