Prev Next

The Fed Raises their Rate but Mortgage Rates Drop! The AVG Sale Price is Down but Buyer Demand

Posted by Lauren Perreault on Tuesday, March 28, 2023 at 12:14:12 PM By Lauren Perreault / March 28, 2023 Comment

The Average and Median Sale Prices both relatively Flat but compared to Last Year at this Time, both were Down 6.3%.
Interest Rates Dropped to 5.625% for the 30-year fixed this week (as of 10:15 AM on March 24th - Wells Fargo). The yield for the 10-Year Treasury (a benchmark for the 30-year fixed) is currently below 3.4% suggesting more room for the 30-year fixed to drop even more.
The Supply of Homes to purchase Remained Steady for the 5th week - Increasing by 0.5%, as Buyer Demand Increased again. +15% vs the Previous Week.