Buyers always prefer new construction, even though new construction prices are rising.
Therefore, mortgage rates are going up, according to the Freddie Mac Primary Mortgage Market Survey, which
reported that new-home sales and price appreciation had driven the
average 30-year fixed-rate mortgage to 3.8% this week, up from 3.76%
last week. That’s actually down from this time last year, when it
averaged 4.37%. New-home
sales were largely flat in January but are up 5.3% from last year, read more.
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