Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

Craig Crabtree: Housing Affordability Has Become a Major Issue

PERSON OF THE WEEK: Mortgage interest rates continued to rise this past week, with the average rate for a 30-year fixed-rate mortgage climbing to 5.54%, up from 5.51% the previous week and up significantly from 2.78% a year earlier, according to Freddie Mac.

Meanwhile, home prices have increased more than 20% on average during the past year, raising affordability concerns as more potential homebuyers get priced out of the market.

The result? Sluggish home sales

This post was originally published on this site

Jim Morrison

What did appraisers learn?

The 2023 Appraisal Summit Recap The Appraisal Summit embraced Appraiser Trainees and Supervisors with events specific to helping them in their roles. These types of

Read More »