Results of Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) released on October 3 show average fixed mortgage rates falling for the third consecutive week amid declining consumer confidence and the onset of the federal government shutdown. The average 30-year fixed rate mortgage is at its lowest level since the week ending June 20, 2013.
Higher interest rates, rising prices and a budget standoff in Washington haven’t shaken consumer sentiment regarding housing. Buyers continue to riffle through existing inventory for options, keeping an eye out for new listings. A sense of normalcy is returning to the real estate ethos after more than a decade of extreme ups and downs. It’s a big week for economic and housing news, so keep your eyes and ears tuned for any changing headlines.
In the Twin Cities region, for the week ending September 21:
For the month of August:
Click here for the full Weekly Market Activity Report.From The Skinny.
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Video produced by Chelsie Lopez.
Freddie Mac’s Primary Mortgage Market Survey® (PMMS®) results released September 26 show average fixed mortgage rates fell following the Federal Reserve announcement that it will maintain its bond buying stimulus. The average rate on the 30-year fixed mortgage is at its lowest level since the week ending July 25, 2013.
For several weeks, markets across the country have seen consistent gains in sales, prices and percent of list price received at sale. Things like steadily low rates, less lender-mediated inventory and increased consumer confidence are all helping this reality. Each and every week reveals signs of a recovered market that are going from temporary yard sign to permanent road sign. Here’s to hoping for prosperous signs on the road ahead.
In the Twin Cities region, for the week ending September 14:
For the month of August:
Click here for the full Weekly Market Activity Report.From The Skinny.
