Rates Down For 30-Year Conforming Loans

Dated: October 20 2022

Views: 177

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates for 30-year fixed-rate loans with conforming balances fell from the week before. Rates for jumbo loans, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans each saw slight increases. Joel Kan, MBA’s associate vice president of economic and industry forecasting, says rates may stabilize, which would be good news for buyers. “Weakening purchase applications trends in recent months have been consistent with data showing a slowdown in sales for newly constructed homes and existing homes,” Kan said. “A potential silver lining for the housing market is that stabilizing mortgage rates and increases in for-sale inventory may bring some buyers back to the market during the second half of the year.” Right now, buyers remain cautious. The MBA’s purchase index – which measures demand for home purchase loans – fell 1 percent week over week and is now 18 percent lower than last year at the same time.

The MikeDowner.com website is the most comprehensive online source for Southwest Florida real estate information and services. Whether you are looking for the latest sales, trends, or homes for sale in Collier, Lee, Charlotte, or Broward Counties in Florida, Mike Downer and Coldwell Banker Realty have it all at your fingertips. Browse information regarding short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida plus much more at www.MikeDowner.com or call Mike at 239-722-6453. #homesforsale#mortgage#realestate

Blog author image

Michael Downer

Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....

Latest Blog Posts

2378 River Reach Drive: Naples Home with Fenced Yard

3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,

Read More

5160 31st Avenue SW, Naples, FL 34116: Renovated Naples Home with No HOA

Newly Renovated | Impact Windows | New Appliances | Room for a Pool | No HOA | Golden Gate CityPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesLess Fixing.

Read More

14059 Mirror Court: Lakefront Pool Home in Naples, FL

4 Bedrooms | 2 Bathrooms | Lakefront Pool Home | Reflection Lakes Presented by Mike Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesA Little More Time to Enjoy FloridaSome

Read More

26841 Clarkston Drive Unit 105: Bonita Springs Condo

2 Bedrooms | 2 Bathrooms | First-Floor Residence | Bonita SpringsPresented by Mike Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesA Simple Way to Enjoy Southwest

Read More