On April 6, Freddie Mac reported the following:
- The standard 30 year mortgage rate fell to 6.28% as of April 4
- This is the lowest level in 6 weeks
- One week ago the rate was 6.32%
- This time last year the rate was 4.67%
Sam Khater, Freddie Mac Chief Economist, says “borrowers are coming back to the market, but as spring homebuying season begins, low inventory remains a key problem.”
Remember, properties need to be sold, and homeowners will be more willing to carry a note when folks can’t or won’t obtain a conventional mortgage. Call me if you want guidance on creating note terms for your property sale.
Reported by housingwire.com on April 6, 2023