Mortgage Rates Fall For Multiple Weeks

The good news for new homeowners recently is that mortgage rates fell in the United States for the sixth week in a row. This is the lowest level since August. A Freddie Mac statement on Thursday reported that the average for a 30-year fixed loan fell to 7.03%, down from 7.22%. 

While the rates have been falling in recent weeks bringing a break for new home buyers it still is a rough housing market due to a weakened supply of homes. This is helpingt o keep prices high and pricing out a lot of new buyers into the market. When rates drops it does increase the amount of applications for loans it will take further drops to really make more of impact in todays economy.

Everyone is waiting to see what the Federal Reserve will do concerning Interest Rates and are hoping for a pause in the hiking of the rates. With hope that the most recent positive employment report will have an influence on that decision.

Making a decision to enter the housing market is a difficult one and knowing when to enter to buy or when to list you home for sale is key. Contacting an real estate agent here in Hot Springs Village will give you the proper advice that will help you make that decision easier. Head to our website for more information.