President of Global Brokerage Bruce Mosler, Kushman and Wackfield President Donald Trump, discusses the impact on the commercial real estate and how Americans are handling 7% of the mortgage rates.
Mortgage rates This week decreased slightly, but long -term rates remain high in the upper -6% range.
Freddy Mac’s latest primary mortgage market survey, released on Thursday, showed that average rate on benchmark 30-year fixed mortgage Last week’s reading of 6.95% fell down to 6.89%. The average rate on a 30 -year loan was 6.64% a year ago.
High mortgage rates are reducing demand in the housing market. (Justin Sulivan / Getty Image / Getty Images)
Freddy Mac’s chief economist Sam Khatar said, “The hostage rates have been stable in the last month and the upcoming figures suggest that the economy remains on the firm.” “Even though the rates are higher than the previous year, the procurement application of the last two weeks is modest up which we saw a year ago, indicating some latent demand in the market.”
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The average rate on the 15-year fixed mortgage fell from 6.12% to 6.05% last week. A year ago, the rate on the 15-year fixed note was an average of 5.9%.
