Mortgage Market Trends

Mortgage Market Trends

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, โ€œmortgage rates continue to trend down entering the traditional spring home buying season.โ€
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.