Jeff Sika of Circle Squad alternative investment warns that the reduction in the fed rate will not reduce the strength of the housing and says that gold is the top rescue against inflation and global uncertainty.
Mortgage rates For the first time this week after mid -July, Rose said hostage buyer Freddy Mac on Thursday.
Freddy Mac’s latest primary mortgage market survey, released on Thursday, showed average rate on benchmark 30-year fixed mortgage The reading of 6.26% last week increased by 6.3%.
The average rate on a 30 -year loan was 6.08% a year ago.
A house for sale in the Capital Hill neighborhood of Washington, DC on 30 July 2024. (Teeryni L. Cross / Bloomberg Getty Embolce / Getty Image)
“Housing market activity continues with an increase of 18% and 42% respectively compared to the previous year and reinforce applications,” said Freddy Mac Chief Economist Sam Khatar.
Average rate on 15-year fixed mortgage Reading 5.41% last week increased by 5.49%. A year ago, the rate on 15 -year fixed note was 5.16%on average.
Hannah Jones, Senior Economic Research analyst of realtor.com said, “Even with this week’s aptik, the mortgage rate lives near a 11 -month climb, which creates opportunities for buyers and homeowners considering a refinance.” “For buyers, the current rate is giving a meaningful boost to the environment strength.”
Only 28% of American homes now buy cheap power drops for cheap American domestic homes
Freddy Mac’s latest data comes after a week federal Reserve The benchmark reduced the interest rate from 25 basis points.
Following the Central Bank’s decision to cut rates for the first time since December 2024, the Federal Fund will sit on a new range of 4% to 4.25%. Amidst economic uncertainty, Fed cut off the unchanged rates in its first five meetings after unchanged.
Meanwhile, the sales of new American single-family homes increased to the highest level in more than 3–1/2 years in August, but this possibility increases the health of the housing market, and a weak labor market may promote falling mortgage rates due to fall.
The sales of new American single-family homes increased to the highest level in August in more than 3–1/2 years. (Reuters/Mike Blake)
Last month, a large-to-intake increase in sales reported by the Department of Commerce on Wednesday was closed by economists, who noted that new housing data were extremely unstable and subject to modifications. He also said that jumping into sales was on obstacles with homebuilder spirit.
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“There is no clear driver,” said Stephen Stanley, the chief American economist of the Santnder US Capital Markets. I hope this spike in sales will be reversed to a large extent in the coming months. “
Reuters contributed to this report
