Mortgage Rate increased for the fifth consecutive week
“The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of Spring Homebuying Season,” said Sam Khater, Freddie Mac’s Chief Economist. “On average, more than one-third of home sales for the entire year occur between March and June. With two months left of this historically busy period, potential homebuyers will likely not see relief from rising rates anytime soon. However, many seem to have acclimated to these higher rates, as demonstrated by the recently released pending home sales data coming in at the highest level in a year.”
News Facts
- The 30-year FRM averaged 7.22 percent as of May 2, 2024, up from last week when it averaged 7.17 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent.
- The 15-year FRM averaged 6.47 percent, up from last week when it averaged 6.44 percent. A year ago at this time, the 15-year FRM averaged 5.76 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 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.
