The CEO of Redfin Glenn Kelman unpacking the state of the housing market on the “Round Table de Barron”.
Mortgage rates have remained almost a three -month hollow this week, Mortgage buyer Freddie Mac said Thursday.
Freddie Mac’s latest survey on the primary mortgage market, published Thursday, has shown that the average rate of the fixed mortgage of 30 years of reference has reached 6.65% compared to last week’s reading of 6.63%. The average rate on a 30 -year loan was 6.74% a year ago.
“Despite market volatility, the 30 -year fixed rate mortgage remained essentially stable compared to last week,” said Sam Khater, chief economist of Freddie Mac. “Mortgage rates continue to be relatively low compared to the last months, and buyers have replied.”
The average rate of the fixed mortgage of 30 years of reference reached 6.65% compared to last week reading of 6.63%. (Steve Pfost / Newsday RM via)
“The combination of modestly lower mortgage rates and inventory improvement is a positive sign for house buyers in this critical home purchase season,” added Khater.
Mortgage rates have been falling again with the greatest weekly drop since mid-September
Does the American housing market become a market suitable for buyers?
The average rate on the fixed mortgage to 15 years increased to 5.8% against 5.79% last week. A year ago, the rate on the fixed note at 15 years was on average 6.16%.
Realtor.com’s main economist, Joel Berner, told Fox Business that the 2025 housing market promises to be more suitable for buyers.
The average rate on the fixed mortgage at 15 years increased to 5.8% against 5.79% last week. (Joe Lamberti / Bloomberg via / Getty Images)
He said that the moment is the moment when buyers enter the market after years of moderate transactions, especially in 2024, which concluded the slowest year for sales of existing houses since 1996, according to business data.
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He estimates that the housing market goes from the market from a seller to a more balanced market, with an increase in stocks, more price reductions, longer times on the market and prices of the lower list compared to last year, all contributing to current conditions for buyers.
Daniella Genovese de Fox Business contributed to this report.
