Mortgage Rates Climb To The Highest In A 4 Year According To Florida Realtors ®

Dated: 03/09/2018

Views: 53

Do You Think Its Time To Get Off The Fence????

Mortgage rates climb to 4.46% - a 4-year high


WASHINGTON (AP) – March 8, 2018 – Long-term U.S. mortgage rates climbed this week to their highest average in more than four years, ratcheting up affordability pressures at the start of the traditional spring home buying season.

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year fixed-rate mortgages climbed to 4.46 percent this week from 4.43 percent last week. This marks the highest average since January 2014. The 30-year rate averaged 4.21 percent a year ago.

The average rate on 15-year, fixed-rate loans rose to 3.94 percent from 3.90 percent last week.

Higher mortgage rates appear to be weighing on home sales, since buyers are facing higher borrowing costs. Home purchases slumped 3.2 percent from December to January, according to the National Association of Realtors. On a yearly basis, home sales have fallen 4.8 percent, the sharpest annual decline since August 2014.

Relatively low mortgage rates had helped ease the financial pressures from home prices rising faster than wages and the worsening shortage of properties listed for sale. But rising rates are slowly hurting affordability.

Mortgage rates have been heading upward for the past nine weeks. The interest rates charged on home loans usually hew close to changes in inflation and the interest paid on U.S. government debt. But the recent increases in mortgage rates have come even as the yield on the 10-year Treasury note has stayed below its two-week high of 2.95 percent.


Image title

Want to Advertise on this Site?

Latest Blog Posts

DavenPort New Construction Starting Price 184K Davenport

LOOKING FOR A NEW HOME UNDER 200 K LOOK NO FURTHER ITS HERE CONTACT US TODAY...Builders offer a variety of great home plans, properties + loan types such as: USDA 100%, FHA, Conventional, VA, MCC &

Read More


CONTACT YOUR REALTOR TO HELP YOU GET STARTED WITH THE PROCESS1. Your Realtor = Transaction BrokerA transaction broker’s job is to facilitate the transactionTransaction brokers can represent

Read More

Customary Types Of Costs To Sell A Home

IT COST $$ TO SELL YOUR HOME....Customary Types of Costs to Sell a HomeFlorida- example, documentary transfer tax is calculated on cents per of the sales price. It might not seem

Read More

The Real Estate Market Its Off To The Races

Real estate can BEST be described right now as a horse race!   The fastest horse wins the race. Preparation is key to winning in this type of real estate market.   In Central

Read More