Lowest 30-Year Rate In Over A Year
But Home Sales Down

Lowest 30-Year Rate In Over A Year
But Home Sales Down

Slow home sales despite low interest rates. Sell your house fast to Home Scout instead.

According to the Mortgage Bankers Association’s Weekly Applications Survey, average rates for 30-year fixed-rate mortgages with conforming loan balances fell again last week. Rates for jumbo loans, loans backed by the FHA, and 15-year fixed-rate mortgages remained mostly flat from the week before. Joel Kan, MBA’s associate vice president of economic and industry forecasting, said the average 30-year fixed-rate is now at its lowest point in more than a year.

30-year fixed-rate mortgage hitting its lowest level since January 2018

“Mortgage rates fell for the fourth straight week, with the 30-year fixed-rate mortgage hitting its lowest level since January 2018, leading to a rebound in refinances,” Kan said. And while it’s true that there was an 8 percent increase in refinance activity last week due to decreasing rates, purchase activity was actually down from the week before. Kan says home buyers may be delaying their search due to economic uncertainty.

Home buyers hold off purchasing due to economic uncertainty

This could cause concern for homeowners and landlords who are looking to sell their home quickly. While typical financed home sales are down, cash purchases from real estate investment companies like Property Scouts are stronger than ever. If your a homeowner or landlord and need to sell your home fast consider selling it for cash to Property Scouts.

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Home Scout LLC / DBA Property Scouts
13611 E 104th Ave Ste 800 Unit 23
Commerce City, CO 80022

Web: https://propertyscoutsco.com