Freddie Mac reports that mortgage rates have inched up again this week, nearing 7 percent. As we move into the holiday season, demand for home purchases remains sluggish. Despite a slight increase in the number of homes for sale, the high-interest rate environment is leading to a slowdown in new construction.
According to Freddie Mac, this week, the 30-year fixed-rate rose 0.07 basis points, bringing the U.S. weekly average to 6.84%. One year ago, the rate was 7.29%.
Purchase or Refinance a Home
Despite upward movement in mortgage rates, it is still an excellent time to purchase or refinance a home in today’s market. Blue Reef Mortgage offers exclusive products designed to help borrowers jump into homeownership. We provide programs with low or no downpayment options, making homeownership more accessible than ever.
Additionally, our refinancing solutions allow borrowers to cash out up to 90% of home equity without the burden of Private Mortgage Insurance (PMI), potentially saving hundreds each month. These programs are tailored to meet borrowers’ unique needs, helping secure a home or improve their financial situation with favorable terms.
Contact Blue Reef Mortgage today to learn more about how we can assist in achieving homeownership dreams.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
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