Facts: The average 30-year fixed mortgage rate from Freddie Mac rose to 7.04% from 6.93% last week. At 7.04%, with 20% down, a monthly mortgage payment is $2,138 on a home with a price of $400,000. With 10% down, the typical payment would be $2,405.

Positive: Despite the highest mortgage interest rates since May 2024, mortgage applications jumped in the last week.  The holidays can be a reality check that a move is needed if a home is not working for a family, especially as homeowners continue to accrue housing equity.

Negative:  CPI notched up yesterday; the increase was from goods that Americans need, which could hold back savings for a downpayment for first-time buyers who are more rate-dependent. Will this housing market remain a housing market of haves and have-nots in 2025?

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