The 30-year fixed mortgage rate from Freddie Mac remained essentially flat at 6.49% this week compared to 6.47% last week.
A notable highlight of the findings in the 2024 NAR Member Profile is that new NAR members are more diverse than their experienced counterparts.
Inflation is calmer, thereby setting the Fed Reserve up to start the rate-cutting process in September.
Knowing the mortgage rates and the qualifying incomes for down payments will help potential homeowners find the metro areas they can afford.
The monthly mortgage payment increased by 1.0% compared to the prior month, while the median price of single-family homes increased by 2.4%.
The share of families with children under the age of 18 living in their homes has continued to decline, likely due to a decline in birthrate and a large share of Baby Boomer households whose children may have already left the nest.
The 30-year fixed mortgage rate from Freddie Mac dropped to 6.47% this week, compared to 6.73% last week.
Mortgage rates are plunging on the news of weak job growth and rising unemployment, which is at 4.3%.
The 30-year fixed mortgage rate from Freddie Mac was nearly unchanged at 6.78% this week vs 6.77% last week.
Housing market activity declined 5.4% from May to June 2024, and all four regions of the U.S. saw year-over-year home price growth.
Search Economists' Outlook