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.
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