Nationally, cash buyers made up about 1/3 of all 2021 home sales so far, but that percentage rises to 52.6% in West Palm Beach, the top metro for cash sales in the U.S. The ratio was 52%
Mortgage Rates Jump to Highest Averages Since August ☘ Hoey Team ☘ eXp Realty
Dated: October 28 2019
The 30-year fixed-rate mortgage was on the rise last week, leaping to a 12-week high. But rates are still well below year-ago levels.
“The outlook for a favorable resolution to the trade dispute between the U.S. and China is still unclear, introducing some volatility into financial markets and the benchmark 10-year Treasury yield,” says Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are following suit but are near historic lows, while mortgage applications to purchase a home remain higher year over year.”
30-year fixed-rate mortgages: averaged 3.75%, with an average 0.5 point, rising from last week’s 3.69% average. Last year at this time, 30-year rates averaged 4.86%.Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 24:
- 15-year fixed-rate mortgages: averaged 3.18%, with an average 0.5 point, rising from last week’s 3.15% average. A year ago, 15-year rates averaged 4.29%.
- 5-year hybrid adjustable-rate mortgages: averaged 3.4%, with an average 0.3 point, up from last week’s 3.35% average. Last year at this time, 5-year ARMs averaged 4.14%.
Article content from NAR Realtor Magazine, Freddie Mac, and other sources. Pease let us know if you have questions on any aspect of the real estate market here in Southwest Florida or elsewhere. Barry and Kim live and work in Naples; serving Soithwest Florida, and beyond. We are here to help you or someone you know, anytime ☘
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats. Thanks, Barry & Kim ☘”
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
With pandemic numbers rising again from some sources; it’s shaken investors and pushed 30-year mortgage rates lower again this week, though adjustable rates moved a little higher.MCLEAN, Va.
Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located.Hot off the press please find
Florida Realtors chief economist Dr Brad O'Connor: More homes are being listed than you think. Despite record-low inventory levels, the reason for current buyer frustrations isn’t