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Mortgage Rates 01-25-2018

By Chantelle Stein Updated on 1/25/2018

Amongst the declining home sales in the last quarter of 2017, existing homes sales were the best in 11 years. According to NAR chief economist, Lawrence Yun, "the housing market performed remarkably well for the US economy in 2017, but not as good as it might have been. The year brought substantial wealth gains for homeowners and historically low distressed property sales. Existing sales concluded the year on a softer note, but they were guided higher these last 12 months by a multi-year streak of exceptional job growth, which ignited buyer demand. At the same time, market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable in a large swath of the country. These two factors ultimately muted what should have been a stronger sales pace." In order to prevent adverse affects of the new tax law which could over time could be negative for home sales and values, there needs to urgency for Realtors in 2018 to make improvements. 

 

Bookmark this page for mortgage rates:

 

• 30-year (FRM) rates at 4.27% (+0.02%)
• 15-year (FRM) rates at 3.64% (+0.03%)
• FHA 30-year Fixed rates at 4.05% (+0.05%)
• Jumbo 30-year Fixed rates at 4.40% (+1.03%)
• 5/1 ARM rates at 3.33 (+0.01%)

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About The Author:
Chantelle Stein
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