September 28, 2023
The 30-year fixed-rate mortgage has hit the highest level since the year 2000. However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing both buyers and sellers to hold out for better circumstances.
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
NOTE: Freddie Mac made a number of enhancements to the Primary Mortgage Market Survey® to improve the collection, quality and diversity of data used. Instead of surveying lenders, the weekly results are now based on thousands of applications received from lenders across the country that are submitted to Freddie Mac when a borrower applies for a mortgage. Additionally, the PMMS® will no longer publish fees/points or adjustable rates. The newly recast PMMS® was put in place on November 17, 2022, and the weekly distribution is Thursdays at 12 p.m. ET.
