Preferred Properties

Tag: Interest Rates

Posted on 01/20/2023
As interest rates decline, loan activity begins to bounce back 
The 30-year fixed-rate mortgage averaged 6.15% this week, the lowest rate since September. Key points: The declining mortgage rate could be behind this week's bump in loan applications. While good news for potential homebuyers, they still don’t have many choices as inventory remains low. As mortgage interest rates approach 6%, more potential buyers are applying for home loans....
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Posted on 01/14/2021
Why Not to Wait Until Spring to Make a Move
The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest...
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Posted on 07/15/2020
Mortgage Rates Hit Record Lows for Three Consecutive Weeks
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this mean for buyers? This is huge for homebuyers....
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