Mortgage Market Trends

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This week we saw mortgage rates fall again according to data provided by Freddie Mac. This continues a streak now stretching four weeks, as homebuyers benefit from lower borrowing costs.
The average rate on a 30 year fixed rate mortgage fell to 6.28% down from 6.32% a week earlier. Freddie Mac chief economist Sam Khater stated, “mortgage rates continue to trend down entering the traditional spring home buying season.”
While rates have fallen there are still challenges for home buyers including low inventory of available for sale in many markets.
If you are thinking about buying a new home this spring check with us to see how much you can get pre-qualified for. You can fill out our 30 second analyzer on our website to get started.