Mortgage rates saw a slight dip over the last week after rising steadily in April according to the latest 
Primary Mortgage Market survey by Freddie Mac. Data from the survey indicated that the 30-year fixed-rate mortgage averaged 4.55 percent declining three basis points from last week when it averaged 4.58 percent.
Though rates rose steadily in the last month, they haven’t really affected homebuyer sentiment.
“Consumer confidence remains very high, demand for purchase credit remains roughly the same as what it was last year in terms of the growth rate. The steady rise in mortgage rates since the beginning of the year has not impacted consumer sentiment or behavior yet.”
According to Economist at Realtor.com, this week’s pause in mortgage rates would also give homebuyers something to cheer about. “This pause should give home buyers a little breathing room amid declining inventory and increasing prices,” she said.
Rates haven’t really impacted homebuyer demand either. “While mortgage rates have increased by one-half of a percentage point so far this year, it has not impacted home purchase demand, which continues to grow this spring,” said Khater.
“It’s also good news that first-time buyers appear to be having more success so far this year–despite higher borrowing costs and home prices.
Freddie Mac’s data through April showed that first-timers represented 46 percent of purchase loans, up from 43 percent over the same period a year ago
We have a wealth of information to help you get started visit Precision Realty & Assoc. LLC or if you prefer a more personal touch, reach out to a us, CALL 801-809-9866 today.
#RealEstateForSale #Homeownership #UtahRealEstate #Mortgage #MortgageRates
Primary Mortgage Market survey by Freddie Mac. Data from the survey indicated that the 30-year fixed-rate mortgage averaged 4.55 percent declining three basis points from last week when it averaged 4.58 percent.Though rates rose steadily in the last month, they haven’t really affected homebuyer sentiment.
“Consumer confidence remains very high, demand for purchase credit remains roughly the same as what it was last year in terms of the growth rate. The steady rise in mortgage rates since the beginning of the year has not impacted consumer sentiment or behavior yet.”
According to Economist at Realtor.com, this week’s pause in mortgage rates would also give homebuyers something to cheer about. “This pause should give home buyers a little breathing room amid declining inventory and increasing prices,” she said.Rates haven’t really impacted homebuyer demand either. “While mortgage rates have increased by one-half of a percentage point so far this year, it has not impacted home purchase demand, which continues to grow this spring,” said Khater.
“It’s also good news that first-time buyers appear to be having more success so far this year–despite higher borrowing costs and home prices.
Freddie Mac’s data through April showed that first-timers represented 46 percent of purchase loans, up from 43 percent over the same period a year ago
We have a wealth of information to help you get started visit Precision Realty & Assoc. LLC or if you prefer a more personal touch, reach out to a us, CALL 801-809-9866 today.
#RealEstateForSale #Homeownership #UtahRealEstate #Mortgage #MortgageRates
No comments:
Post a Comment