Rates Trend Down For Another Week

Rates Trend Down For Another Week

Mortgage rates inched down last week, reaching their lowest level in nearly three months. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.86%, down slightly from the week prior’s 6.87%. A year ago at this time, the 30-year FRM averaged 6.71%. The 15-year, however, rose to 6.16% from 6.13%. A year…

Permanent Rate Buydowns Continue To Reign For Affordability-Minded Buyers

Permanent Rate Buydowns Continue To Reign For Affordability-Minded Buyers

Rate buydowns continue to soar as borrowers look for ways to combat the affordability crisis, according to new data from Black Knight. In the third week of January, 57% of buyers paid at least a half-point on a permanent buydown, while 44% paid a full point, and almost 25% bought down two or more points….

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