Social Links Widget

Click here to edit the Social Media Links settings. This text will not be visible on the front end.

Uncategorized • March 3, 2023

Mortgage Rates Heading UP

by Joanne Fishman

The average 30-year fixed rate mortgage rose to 6.65 percent yesterday from 6.50 percent the week before, reported mortgage buyer Freddie Mac. A year ago the average rate was 3.76 percent. 

“As we started the year, the 30-year fixed rate mortgage decreased with expectations of lower economic growth, inflation, and a loosening monetary policy. However given sustained economic growth and continued inflation, mortgage rates boomeranged and we are inching up toward seven percent,” said Sam Khater, Freddie Mac’s chief economist. 

Since peaking at 7.08 percent in November, mortgage rates remain nearly double what they were a year ago. 

Related Articles
Real Estate When Mortgage Rates Drop, Look For Buyers To Step Up Mortgage rates continue to move in a narrow range with the average interest rate for the 30-year fixed-rate mortgage declining slightly this week to 6.79 percent, according to Freddie Mac.  This is down from last week’s average of 6.87 percent.  Comparatively, a year ago the rate averaged closer to the bottom of the 6 percent […]
Uncategorized Mortgage Rates Not Expected To Drop Anytime Soon Interest rates are likely to come down later this year, with the Federal Reserve on track to start cutting rates. But mortgage rates might not follow as quickly. According to an article yesterday in the Wall Street Journal, that is because mortgages, and mortgage-backed bonds, just aren’t as in demand in financial markets as they […]
Real Estate Colors To Avoid When Selling Your Hom   Beware what colors you use when preparing to sell your home. Red is one of the most off-putting color, according to a survey of home staging and design professionals conducted by the home remodeling site Fixr.com.   “Red is an extremely strong color and may not be to everybody’s taste,” the study notes. Fixr […]

Coldwell Banker - Orinda

© 2024 Coldwell Banker Real Estate LLC

Terms Of Use | Privacy Policy

Accessibility Statement | Fair Housing Notice

© Coldwell Banker 2023 – 2024. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.