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Real Estate Market Update September 2023

    The national sales of pre-owned homes have recently experienced a decline, reaching the lowest point in seven months. This can be attributed to the significant increase in borrowing costs, the rise in sales prices, and the limited availability of homes for sale.

    30-Year Mortgage Rate Increase to 7.09%

      30-Year Mortgage Rate Increase to 7.09%. The average long-term mortgage rate rose last week to its highest it has been in 20+ years.  This is the fourth straight week increase for the average rate and the highest since April, 2002 where the average was 7.1%.