Real estate experts Dolly and Jenny Lenz highlight the latest real estate trends and the state of the housing market on ‘The Claman Countdown’.
mortgage rates Mortgage buyer Freddie Mac said Thursday that the conflict in Iran continues to weigh on the market, pushing prices higher this week.
Freddie Mac’s latest primary mortgage market survey released Thursday showed average rates on the benchmark 30-year fixed mortgage The reading increased from 6.38% to 6.46% last week.
A year ago the average rate on a 30-year loan was 6.64%.
A real estate agent shows a new location to potential home buyers. (Getty Images)
“With the spring home buying season in full swing, interested buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes,” said Sam Khater, chief economist at Freddie Mac.
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The average rate on a 15-year fixed mortgage increased to 5.77% from 5.75% last week.
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Homes for sale in Evesham TWP, NJ, Feb 26, 2023. (Fox News)
Mortgage rates are influenced by many factors, including the Federal Reserve and geopolitics. Although mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield was around 4.3% as of Thursday afternoon.
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