Redfin CEO Glenn Kelman spoke about the housing industry, arguing that “high home prices are a real problem.”
Mortgage rates were little changed from last week, with some slight increases.
Freddie Mac’s latest primary mortgage market survey released Thursday showed that the average benchmark interest rate was 30-year fixed rate mortgage That’s up from 6.77% last week to 6.78% this week. The average rate on a 30-year mortgage was 6.81% a year ago.
“Mortgage rates were roughly stable from last week but are down almost a half percentage point from their peaks earlier this year,” said Sam Carter, chief economist at Freddie Mac. “Despite these declines in interest rates, buyers continue to hold off on purchases, as reflected in declining sales data for new and existing homes.”
Showing homes available for sale in Austin, TX on May 22, 2024. (Brandon Bell/Getty Images/Getty Images)
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The average interest rate on a 15-year fixed mortgage rose to 6.07 percent from 6.05 percent last week. A year ago, the average interest rate on a 15-year fixed loan was 6.11 percent.
