Real estate experts Dolly and Jenny Lenz break down the latest real estate trends and the state of the real estate market on ‘The Claman Countdown.’
Housing prices rose this week as the conflict in Iran continues to weigh on markets, mortgage broker Freddie Mac said Thursday.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed an average rating on the bench. 30 year fixed mortgage increased to 6.46% compared to last week’s rate of 6.38%.
The average rate for a 30-year mortgage was 6.64% last year.
A real estate agent shows potential home buyers a new location. (Getty Images)
“As home buying season heats up, first-time buyers should remember to shop around for the best mortgage deals, as they can save thousands of dollars by getting multiple quotes,” said Sam Khater, Freddie Mac’s chief economist.
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The average 15-year fixed mortgage rate rose to 5.77% from last week’s reading of 5.75%.
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Real estate in Evesham Twp., NJ, Feb. 26, 2023. (Fox Stories)
Mortgage rates are affected by several factors, including the Federal Reserve and geopolitics. Although mortgage rates are not directly affected by the Fed’s interest rate decisions, they closely track the 10-year Treasury yield. The 10-year yield rose to 4.3% as of Thursday afternoon.
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