For most of the internet era, searching for a home meant the same ritual: set your price cap, pick a number of bedrooms, check a few boxes, and scroll. Then the real work started — sifting
Mortgage Rates drop to levels not seen since mid-2023
Dated: January 19 2024
Views: 55
A welcome change for homebuyers as 30-year mortgage averages drop to an eight-month low
Long-term mortgage rates fell to their lowest level in eight months, Freddie Mac’s Primary Mortgage Market Survey (PMMS) showed.
The 30-year fixed-rate mortgage reached 6.60% this week, down from last week’s average of 6.66%. The popular mortgage rate stood at 6.15% a year ago.
Similarly, the 15-year fixed mortgage also decreased, averaging 5.76%, down from the previous week’s 5.87%. This time last year, the 15-year FRM averaged 5.28%.
“Mortgage rates decreased this week, reaching their lowest level since May of 2023,” Freddie Mac chief economist Sam Khater said in the report. “This is an encouraging development for the housing market and, in particular, first-time homebuyers who are sensitive to changes in housing affordability. However, as purchase demand continues to thaw, it will put more pressure on already depleted inventory for sale.”
Original Story By Candyd Mendoza
19 Jan 2024
James Clark
James Clark has been a licensed California Realtor® since May 2000, bringing more than 25 years of real estate experience to buyers, sellers, and investors throughout California. Over the course o....
Latest Blog Posts
For the past two years, a lot of people have been waiting on the housing market to do one specific thing: drop rates dramatically and "unfreeze." That was the plan for buyers and sellers alike.
When most people picture negotiating on a home, they picture one number: the list price. You offer somewhere under the asking price, the seller counters, you settle in the middle, and whoever gives
If you've spent any time on real estate TikTok in the last few years, you've probably seen the house hacking pitch. Buy a property, rent part of it out, let your tenants cover the mortgage. Live for
Based on information from California Regional Multiple Listing Service, Inc. as of September 24, 2026 8:45 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g.square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with
