Mortgage Rates Trending Lower
April 6, 2023
Mortgage rates continue to trend down entering the traditional spring homebuying season. Unfortunately, those in the market to buy are facing a number of challenges, not the least of which is the low inventory of homes for sale, especially for aspiring first-time homebuyers.
History of the Freddie Mac 30 YR Fixed Rate Mortgage Survey
October 21, 1981 18.39% (All Time High)
December 24, 2020 2.66% (All Time Low)
January 5th, 2023 6.48% (1st report of 2023)
February 2nd, 2023 the survey said 6.09% (Lowest of 2023) Right before the Jobs report unexpectedly showed 517,000 new jobs were created in January of 2023. Then rates started trending higher.
March 9th, 2023 the survey said 6.73% on a 0 yr FRM (Highest of 2023)
For more information:
John Marbury - 205-266-5669 john.marbury@colonybank.cm NMLS# 740833
George Kontos - 205-876-7484 george.kontos@colonybank.com NMLS# 242754
For updates, mortgage calculators and online application go to: https://www.johnmarbury.com/
NMLS # 408873
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