Rising Mortgage Rates Wont Deter Home Sellers in Todays Market
By Christopher Pataki, Hockessin Delaware Real Estate
(RE/MAX Associates)
This week saw a spike in mortgage rates, which should worry buyers in the midst of the competitive spring real estate market.According to Freddie Mac, the average rate on a 30-year fixed home loan increased from 6.82% to 6.88% during the week that ended on April 11.“Mortgage rates have been drifting higher for most of the year due to sustained inflation and the reevaluation of the Federal Reserve’s monetary policy path,” Sam Khater, Freddie Mac’s chief economist, said in a statement.For the week ending April 6, home sellers were pushing ahead despite the ongoing rocky path of mortgage rates.According to Realtor.com® economist Jiaya Xu's most recent analysis, "many sellers are actively listing their homes this spring, with the number of newly listed homes up by 30.1% from a year ago."In ...
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