The dips keep on coming. This week’s Freddie Mac average on a 30-year fixed-rate mortgage dropped to 2.67%, another historic low. Freddie Mac’s Chief Economist Sam Khater was optimistic in this week’s release, saying “Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.”
The nagging issue for buyers is affordability. The last CaseShiller home price index showed a 7.0% increase in home prices, much higher than the previous report of 5.8%.