October 13, 2022
Rates resumed their record-setting climb this week, with the 30-year fixed-rate mortgage reaching its highest level since April of 2002. We continue to see a tale of two economies in the data: strong job and wage growth are keeping consumers’ balance sheets positive, while lingering inflation, recession fears and housing affordability are driving housing demand down precipitously. The next several months will undoubtedly be important for the economy and the housing market.
Do you have other real estate questions? Please contact me at your earliest convenience. I’d be glad to assist you or someone you know!
Sal Soriano, REALTOR
972.281.7500
AVERAGE COMMITMENT RATES SHOULD BE REPORTED ALONG WITH AVERAGE FEES AND POINTS TO REFLECT THE TOTAL UPFRONT COST OF OBTAINING THE MORTGAGE. VISIT THE FOLLOWING LINK FOR THE DEFINITIONS. BORROWERS MAY STILL PAY CLOSING COSTS WHICH ARE NOT INCLUDED IN THE SURVEY.
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