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Uncategorized • October 20, 2022

Our Changing Market

by Joanne Fishman

 

Here is a snapshot that shows how our local market is changing.

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Real Estate Mortgage Rates Dip After Five Week Climb After a five week climb, mortgage rates dipped down following a weaker than expected jobs report, according to Freddie Mac’s latest market survey released today. The 30-year fixed rate mortgage declined to 7.09 percent this week from 7.22 percent last week. The average rate on a 30-year loan a year ago was 6.35 percent. An […]
Real Estate Pending Home Sales And Home Prices Rise The National Association of Realtors reported this week that pending home sales increased 3.4 percent in March and that existing home sales are expected to rise by 9 percent this year. The Northeast, South and West posted gains in transactions while the Midwest recorded a loss. “March’s Pending Home Sales Index…marks the best performance in […]
Real Estate Mortgage Rates Continue Rising Mortgage rates continued rising this week with the 30-year fixed-rate mortgage reaching 7.17 percent, according to Freddie Mac. Despite rates increasing more than half a percent since the start of the year, home buying demand remains steady. With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this weeks report that sales […]

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