All Eyes On Home Prices
Even though the summer homebuying season is officially here, the housing market is still experiencing a winter chill.
The national average 30-year fixed mortgage rate remains elevated compared to last year, hitting a year-to-date high of 6.79% the week ending June 1, according to Freddie Mac.
Though the median existing-home sales price edged lower year-over-year for the fourth consecutive month—a promising sign for home shoppers—experts don’t expect substantial, nationwide price declines anytime soon.
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