May 28, 2024
Mortgage

Mortgage rates continue to trend down ahead of inflation report 

As the U.S. reaches its peak homebuying season, mortgage rates continue to ease week over week.  HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conforming loans at 7.45% on Tuesday, below the rate of 7.51% one week ago. At the same time one year ago, the average rate was 6.54%.The 15-year conforming

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Mortgage

Second-home mortgage market slumped in 2023: Redfin

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Simultaneously, the appetite for second homes also diminished substantially.  Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic

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