05/10/2024
Freddie Mac keeps track of historic Mortgage Rates (From 1971 to Current). I've found this web page to be very informative. They always provide an easy-to-understand summary and usually update it on a weekly basis. Here is the update summary for 5/9/24:
After a five week climb, mortgage rates ticked down following a weaker than expected jobs report. An environment where rates continue to hover above seven percent impacts both sellers and buyers. Many potential sellers remain hesitant to list their home and part with lower mortgage rates from years prior, adversely impacting supply and keeping house prices elevated. These elevated house prices add to the overall affordability challenges that potential buyers face in this high-rate environment.
30-yr rates are at 7.09%
15-yr rates are at 6.38%
Check it out:
After a five week climb, mortgage rates ticked down following a weaker than expected jobs report. An environment where rates continue to hover above seven percent impacts both sellers and buyers. Many potential sellers remain hesitant to list their home and part with lower mortgage rates from years....
