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Instant Reaction, Mortgage Rates, July 18, 2024

Instant Reaction, Mortgage Rates, July 18, 2024


Facts: The 30-year fixed mortgage rate from Freddie Mac fell further to 6.77% over the last week from 6.89%. At 6.77%, with 20% down, a monthly mortgage payment on a home of $400,000 is $2,080; with 10% down, it is $2,340.
Positive: This is the lowest mortgage rate reported since March 14. This is the biggest weekly drop in basis points since May. This helps home buyers with one part of the housing affordability equation.
Negative: Lower rates are good news for first-time buyers, but may not be enough to move potential sellers who love their low rates. While mortgage applications are up, is it enough to get the housing market out of second gear?
Source:www.nar.realtor/

Nhận xét

  1. BeatColorlúc 03:12 28 tháng 4, 2025

    Great news for homebuyers as mortgage rates continue to ease! While this drop helps improve affordability, inventory remains tight with many homeowners holding onto their lower rates. For real estate agents and sellers, this is the perfect time to refresh property listings and stand out in a competitive market. Beautiful, professional photos make a difference, check out our real estate photo editing services here)

    Trả lờiXóa

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