In light of decreasing interest rates, geopolitical concerns, and even the anticipation of the Federal Reserve on the Federal Funds Rate, Freddie Mac has reported another weekly decline in 30 year mortgage rates to 4.63 percent.
If this trend continues, 30 year mortgage rates will not likely have risen the full percentage point as projected from the start of the year to the end of 2018.
This short term reduction, alongside a typical seasonal slowdown in housing sales might just stimulate some buying activity, “if” buyers are paying attention and “also if” they are able to find a desirable home. The ladder of these issues might be the hardest part. Though active listings have been trending up in most metropolitan areas they still, for the most part, are well under levels that qualify as a buyers market with multiple properties available and long days on market trends.
As it should be noted, since last week the ten year treasury yield has risen from around 2.83% this time last week to 2.90% as of the time of writing. This uptick may show a slight increase in 30 year mortgage rates for next week.