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New Freddie Mac Survey Offers Insight To Housing Market

January 14, 2015

In the past few months, we have been tracking market movement across the country. There has been a lot of shifts and changes that have come into play for potential sellers and buyers as homeowners consider investing in the industry. This year, we have seen an overwhelming steadying or stabilization of the market in this post-recession economy, but many aspects of the industry are still working to reach pre-recession levels.

In the most recent release of the Primary Mortgage Market Survey (PMMS) issued by Freddie Mac, there were some enlightening points in the report that indicate some developments in the market.

For instance, the average fixed mortgage rates were recorded as being up slightly from the previous week, with the average 30-year fixed-rate mortgage staying just below four percent. It is currently residing at 3.93 percent with an average of 0.5 points for the week ending December 11.

“Fixed mortgage rates rebounded this week with the 30-year fixed mortgage rate increasing to 3.93 percent after declining for four weeks in a row,” says Frank Nothaft, the vice president and chief economist for Freddie Mac, in an official statement. “The rate rise comes on the heels of an uplifting jobs report showing nonfarm payrolls adding 321,000 new jobs in November — 91,000 more jobs than expected. The unemployment rate remained unchanged at 5.8 percent.”

For more information on the state of the market, and when might be a good time to sell or buy a home, follow along with this blog. To learn how Guaranty Mortgage Services can help you make this big decision for your family or financial situation, contact our specialists today!

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