Freddie Mac reports that the 30-year fixed-rate mortgage has fallen for the third straight week. This downward trend, alongside robust consumer income growth and a bullish stock market, has spurred increased homebuyer interest in recent weeks. However, despite this positive trend, potential homebuyers are still grappling with significant affordability challenges.
According to Freddie Mac, this week, the 30-year fixed-rate decreased 0.09 basis points, bringing the U.S. weekly average to 6.60%. One year ago, the rate was 6.95%.
Housing Market
With the housing market gaining some momentum, it’s crucial for borrowers to act now. Mortgage rates are dropping, and consumer demand is increasing. Getting prequalified allows you to start shopping for your dream home before the market fully shifts to a seller’s market. Once that happens, buyer concessions will diminish, and home prices will rise further. By acting now, you can secure better terms and position yourself advantageously before competition heats up. Don’t wait—get prequalified and start your home search today. Act now to maximize your opportunities and savings.
It all starts with getting prequalified.
At Blue Reef Mortgage, we’re here to help you navigate this opportunity. Let’s work together to make your homeownership dreams a reality.
Blue Reef Mortgage is your local mortgage broker offering low in-market rates and personalized service.
NMLS 1428917
Don’t wait—let’s get you prequalified today!
