The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, increased 15.1 percent from last month to a seasonally adjusted level of 124 in December. This marks the highest level recorded since January 2013, the first month measured by the Redfin Demand Index. A level of 100
The average luxury home sold for $1.6 million last quarter, according to Redfin research. Click to see the most expensive sales and which cities fared best.
Mortgage rates were down this week, averaging 4.09 percent for a 30-year, fixed-rate loan, down from 4.12 percent last week. Last year at this time, the rate was 3.81 percent, according to Freddie Mac. What’s going on? Immediately after Donald Trump’s unexpected victory in the presidential election, mortgage rates jumped, with the 30-year fixed climbing
Nationally, homebuyers toured fewer homes and wrote fewer offers last month, as the Redfin Housing Demand Index dropped 7.3 percent.
Last week, the average 30-year fixed-rate mortgage rose to 4.16 percent, while the Federal Reserve raised the federal funds rate for the first time in a year, and only the second time this decade. How does this affect homebuyers? Redfin is on the record predicting that in 2017, rates won’t average above 4.3 percent for
Mortgage rates were up this week, averaging 4.16 percent for a 30-year, fixed-rate loan, up from 4.13 percent last week. Last year at this time, the rate was 3.97 percent, according to Freddie Mac. As recently as late October, the 30-year fixed was at 3.47 percent, so the current rate does mark a notable hike.
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