Instant Reaction: Mortgage Rates, December 21, 2023

Mortgage interest rates continued to incrementally decline today, dropping to 6.67% from 6.95% last week. For a $400,000 home, this is a monthly mortgage payment of $2,059—a monthly savings of $242 from when rates were at 7.79% in October. Mortgage interest rates for the 30-year fixed are also nearl

Home Sales Start to Rise, Building Momentum for 2024

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Existing-Home Sales Expanded 0.8% in November, Ending Five-Month Slide

Key Highlights Existing-home sales edged higher by 0.8% in November to a seasonally adjusted annual rate of 3.82 million, finishing a five-month drop. Sales retreated 7.3% from one year ago. The median existing-home sales price rose 4.0% from November 2022 to $387,600 – the fifth consecutive month o