Freddie Mac Report
Freddie Mac released reports that showed the national average commitment rate for a 30 year, conventional loan. The conventional fixed-rate mortgage was 6.36% in October, which was down from September’s 6.4%.
However both September and October show higher mortgage rates than this time last year. Last week Freddie Mac reported that the 30 year rate dropped to its lowest since January of this year.
Many experts are saying that sellers in most of the country are doing what it takes to attract buyers. One expert reported that with the exception of parts of the West, sellers are cutting their price enough to encourage sales.
History shows that when there is a good market for sellers in areas with rising jobs and a growing population where prices remain moderate than those are the places with the strongest price growth.
One Comment to Freddie Mac Report
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