The latest decline brought the average rate on a 30-year mortgage down to 7.44% from 7.5% last week, mortgage buyer Freddie Mac said Thursday. As mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. They also discourage homeowners who locked in far lower rates two years ago, when they were around 3%, from selling. The combination of rising mortgage rates and home prices have weighed on sales of previously occupied U.S. homes, which fell in September for the fourth month in a row, grinding to their slowest pace in more than a decade. Here's where home sales are headed in Nebraska.

Source: Daily Sun November 18, 2023 18:38 UTC