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The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.
(The weekly market rates shown may reflect a discount point, this information is for education purposes only. All content is subject to change without notice due to market fluctuations and volatility)
As always, if you have any questions about what is happening in the market or would like to discuss some specific financing scenarios for your buyers, I would be happy to help in any way I can.
Have a great weekend!
Update and numbers pulled from Mortgage News Daily & FreddieMac.com
Contact me for more mortgage related information.
Casandra Alvarez
NMLS# 1100945
Luminate Home Loans
219-707-0316
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