Current Market Data

Mortgage rates continued to rise this week, with the average rate on a 30-year fixed mortgage jumping to 6.79% from 6.39% in the first week of May.

Following the trend of the bond market, mortgage rates rose to an average rate of 6.57% on a 30-year fixed mortgage from 6.39% the previous week.

The pending home sales pace in April 2023 showed no movement from the previous month but fell 20.3% from a year ago.

Why are homeowners moving, how did they search for their new homes, and how did they ultimately purchase their homes?

With a 6.4% rate, the typical buyer can afford to purchase a home up to $380,000 – $9,000 or 2% less than the median-priced home if they put 20% down.

Mortgage rates moved lower this week, with the average rate on a 30-year fixed mortgage dropping to 6.35% from 6.39% the previous week.

A record number of Americans are working, with another 253,000 net new job additions in April.

The Federal Reserve raised short-term interest rates again, but this doesn't mean that mortgage rates will rise as well.

The latest interest rate hike by the Federal Reserve is unnecessary and harmful.

NAR released a summary of pending home sales data showing that March's pending home sales pace fell 5.2% last month and 23.2% from a year ago.