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What is the current state of the housing market?
The national average 30-year fixed mortgage rate crossed the 7% mark in the third week of August, rising to 7.09% the week ending August 17. Meanwhile, existing monthly home sales dropped 3.3%, with all four major U.S. regions posting year-over-year sales declines.
Despite high mortgage rates, has the market remained competitive? Do first-time home buyers still have a chance? And are buyers still paying sometimes 10-15% over the asking price?
Get Ray and Terry’s insights into the latest real estate market trends in this episode.
You can subscribe to our podcasts via:
The post What is the current state of the housing market? appeared first on My Home HQ with Ray Fletcher.
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By Ray FletcherThe national average 30-year fixed mortgage rate crossed the 7% mark in the third week of August, rising to 7.09% the week ending August 17. Meanwhile, existing monthly home sales dropped 3.3%, with all four major U.S. regions posting year-over-year sales declines.
Despite high mortgage rates, has the market remained competitive? Do first-time home buyers still have a chance? And are buyers still paying sometimes 10-15% over the asking price?
Get Ray and Terry’s insights into the latest real estate market trends in this episode.
You can subscribe to our podcasts via:
The post What is the current state of the housing market? appeared first on My Home HQ with Ray Fletcher.