“Higher For Longer” Rates Keeping Buyers Sidelined Even As Inventory Rises

“Higher For Longer” Rates Keeping Buyers Sidelined Even As Inventory Rises

ByTMN Editor Reading Time: 2 minutes

Just as inventory is picking up, “higher for longer” decisions by the Feds are keeping buyers sidelined with 7% interest rates. That’s according to First American, which has released its April 2024 Home Price Index report. The data suggests that a recent uptick in inventory will boost sales activity as the spring buying season peaks but…

Mortgage Rates Increase Again Putting Pressure On Buyers

Mortgage Rates Increase Again Putting Pressure On Buyers

ByTMN Editor Reading Time: 2 minutes

Mortgage rates increased slightly last week, inching up after falling the week prior. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.81%, up from 6.78%. A year ago at this time, the 30-year FRM averaged 5.30%. The 15-year fixed-rate mortgage also increased, up to 6.11% from 6.06%. A year ago, it…

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