Yes, homebuyers have seen mortgage rate increases of over half a percent in the past three weeks. But according a Redfin survey, most are still buying.
The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, declined 3.5 percent from September to a seasonally-adjusted level of 100 in October. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015, meaning that demand in October was at
Redfin looked at when homes sell quickly, and for a good price. It turns out, listing in winter makes a lot of sense.
Mortgage rates shot up this week, averaging 3.94 percent for a 30-year, fixed-rate loan, up from 3.57 percent last week. Last year at this time, rates were 3.97 percent, according to Freddie Mac. What does this mean for homebuyers and homeowners going forward? That’s not as clear. “The new Trump administration’s economic plan has the
Earlier this year, Redfin looked at the price premium for Trump condos and whether it had been adversely affected by the polarizing political campaign. The results were mixed. Yes, the premium for condos sold in Trump-branded buildings had gone down slightly in 2016, but it wasn’t clear if it was the result of his new-found
The index shows there is a healthy pool of buyers willing and ready to purchase, should they find the right home.
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